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To drive widespread adoption, Libra is designed to be a currency where any user will know that the
value of a Libra today will be close to its value tomorrow and in the future. The reserve is the key
mechanism for achieving value preservation. Through the reserve, each coin is fully backed with a
set of stable and liquid assets. With the presence of a competitive group of liquidity providers that
interface with the reserve, users can have confidence that any coin they hold can be sold for fiat
currency at a narrow spread above or below the value of the underlying assets. This gives the coin
intrinsic value from the start and helps protect against the speculative swings that are experienced
by existing cryptocurrencies.

There's no speculation in Libra. So, it would not compete with the said coins.