Visa, Mastercard reconsider backing Facebook's Libra - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Reuters reported last week that Facebook could push back the launch of Libra to tackle regulatory concerns that have been raised around the world.

The financial backers to Libra did not want to attract regulatory scrutiny and declined Facebook’s requests to publicly support the project, according to the Journal report. Separately, Bloomberg reported that PayPal Holdings Inc and Stripe Inc are also undecided about formally signing onto Libra. Facebook announced plans to launch the digital currency in June 2020, in partnership with other members of the Libra Association set up by the US tech giant to manage the project.

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