RATE Group | Libra Cryptocurrency Could Be In Jeopardy, As Mastercard, Visa And Ebay Pull Out
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Libra Cryptocurrency Could Be In Jeopardy, As Mastercard, Visa And Ebay Pull Out

13 Oct Libra Cryptocurrency Could Be In Jeopardy, As Mastercard, Visa And Ebay Pull Out

Posted at 08:39h in Cryptocurrency News by

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The Facebook cryptocurrency Libra took a major hit on Friday, as Mastercard Inc., Visa and Ebay Inc. left the Libra Association, which supervises the project. Stripe Inc. and Argentina-based Mercado Pago also bailed out of the initiative. 

On Monday, the companies who are part of the Libra Association will formalize their participation in the initiative. Companies such as Visa and Mastercard may have cold feet, as global regulators have had concerns about the project. 

Earlier this month, PayPal also left the Libra association. The departures mean that Libra no longer has the support of any major digital payment company. 

Despite these setbacks, Dante Disparte, the head of communications at the Libra Association, has said that “We are focused on moving forward and continuing to build a strong association of some of the world’s leading enterprises, social impact organizations and other stakeholders” and that membership of the association may grow and change over time. 

On…

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