Mastercard, Visa and eBay quit Facebook’s proposed Libra global digital currency group

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Facebook’s proposed global digital currency has suffered a setback after major payment companies including Mastercard, Visa and eBay pulled out.

Stripe and Latin American payments company Mercado Pago also announced they were leaving.

The Libra Association now has no major payments companies as members, meaning it cannot count on a global player to help people turn their currency into Libra and facilitate transactions.

The remaining members are mainly venture capital, telecommunications, blockchain and tech companies.

Visa confirmed they had pulled out, adding: “We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the association’s ability to fully satisfy all requisite regulatory expectations.”

It comes just days after US payments processing firm PayPal pulled out.



Via Sky News

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