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More companies back away from Facebook's Libra coin

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Visa, Mastercard, eBay and Stripe have changed their minds about being founding members of the Libra Association assembled to promote the digital currency.

Facebook's digital currency alliance lost more companies on Friday amid heavy criticism from regulators around the world on the planned Libra global cryptocurrency.

"We remain focused on our strategy and our own significant efforts to enable financial inclusion around the world. We believe there are potential benefits in such initiatives and will continue to monitor the Libra effort." Silicon Valley-based eBay said:"We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member."

The original list of founding members was cut to 23 factoring in the departures from the group on Friday. An list of founding members is to be announced at an inaugural Libra Association council meeting on Monday, according to Disparte.

 

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