Facebook's Libra currency abandoned by major financial companies

📆 12/10/2019 12:55 PM
📰 The Straits Times

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WASHINGTON (REUTERS) - Facebook's ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday (Oct 11), as major payment companies including Mastercard and Visa quit the group behind the project.. Read more at straitstimes.com.

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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