Facebook's Libra currency abandoned by major financial companies

WASHINGTON - Facebook's ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday , as major payment companies including Mastercard and Visa quit the group behind the project.

The remaining association members, including Lyft and Vodafone, consist mainly of venture capital, telecommunications, blockchain and technology companies, as well as nonprofit groups. "Although the makeup of the Association members may grow and change over time, the design principle of Libra's governance and technology, along with the open nature of this project ensures the Libra payment network will remain resilient."

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More companies back away from Facebook's Libra coinFacebook's digital currency alliance lost more companies on Friday amid heavy criticism from regulators around the world on the planned Libra ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »