RATE Group | Financial giant Visa and Mastercard are having second thoughts about Facebook’s Libra cr…
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Financial giant Visa and Mastercard are having second thoughts about Facebook’s Libra cr…

03 Oct Financial giant Visa and Mastercard are having second thoughts about Facebook’s Libra cr…

Posted at 04:01h in Cryptocurrency News by

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Financial giants Visa and Mastercard are ‘having second thoughts’ about being involved with Facebook’s Libra cryptocurrency and are ‘on the verge of pulling out of the venture’

  • Visa, Mastercard Inc and other key financial partners may reconsider their involvement in Facebook’s cryptocurrency, Libra
  • The financial backers to Libra did not want to attract regulatory scrutiny and declined Facebook’s requests to publicly support the project
  • Facebook could push back the launch of Libra to tackle regulatory concerns that have been raised around the world
  • Facebook announced plans to launch the digital currency in June 2020
  • However, the attempt to drag cryptocurrencies into the mainstream has since met with regulatory and political skepticism globally
  • France and Germany are pledging to block Libra from operating in Europe

By Afp and Reuters

Published: 23:15 EDT, 2 October 2019 | Updated: 23:15 EDT, 2 October 2019

Mastercard, Visa and other financial partners being enlisted to…

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