Partner companies withdraw from Facebook's virtual currency `` Libra '' one after another



On October 4th, 2019, a breakout company came out for the first time from a partner company that joined the “Libra Association”, which was established to operate the new virtual currency “

Libra ” advocated by Facebook. A week has passed, and it has become clear that companies such as Visa , Mastercard , eBay , Stripe , and Mercado Pago are leaving.

Mastercard, Visa, eBay and Stripe quit Facebook's Libra | Financial Times
https://www.ft.com/content/a3e952dc-ec5c-11e9-85f4-d00e5018f061

Facebook's Libra Association crumbling as Visa, Mastercard, Stripe, and others exit-The Verge
https://www.theverge.com/2019/10/11/20910330/mastercard-stripe-ebay-facebook-libra-association-withdrawal-cryptocurrency



Libra, a completely new cryptocurrency advocated by Facebook, is aiming to start the service in 2020. At the time of announcement, famous companies such as Visa, MasterCard, Uber, Lyft, eBay, Spotify, and PayPal will participate as partners. It became clear.

However, before the service was launched, France and Germany announced that they would block Libra, and it was clear that they were undergoing rigorous research from central banks and regulators around the world. At this point, it was reported that two companies were considering leaving the Libra Association, but it was also reported that the first withdrawal company was issued from the Libra Association on October 4.

The first withdrawal from a partner company supporting Facebook's own virtual currency `` Libra ''-GIGAZINE



On October 12, 2019, Visa, Mastercard, eBay, Stripe, and Mercado Pago were reportedly leaving the Libra Association. When PayPal's withdrawal was reported, Visa CEO Al Kelly issued a statement emphasizing provisional support for Libra. You can see what Kerry's statement was like in the above article .

When Visa's departure from the Libra association contacted Visa, a spokesperson said that Visa decided not to participate in Libra association at the moment. . However, the spokesperson said, “We will continue to evaluate Libra, and the final decision will be determined by multiple factors, such as whether the association is fully capable of meeting all the necessary regulations.” It emphasizes that it is a decision not to participate at the time of writing the article.

EBay, who was also reportedly withdrawn, said: “We respect the Libra Society vision very much, but eBay has decided not to proceed with the project as a founding member. We will only focus on providing customers with a payment experience. ”

In addition, Stripe commented about the withdrawal, “Stripe supports projects around the world to make online commerce easier for people around the world. The decision is not to participate.

In addition, it seems that the comment from Mastercard has not been obtained at the time of article creation.

The list of Libra Association member companies released at the beginning of Libra announcement is shown below.



At the time of writing, Visa, Mastercard, eBay, Stripe, and Mercado Pago, which were reportedly withdrawn, are no longer logos.



Visa, Mastercard, eBay, Stripe, and Mercado Pago, all reported to be withdrawn, are all payment technology companies, and Libra will lose its payment technology partners. The Verge points out that this is 'a serious problem' for Libra, which has just started.

Dante Disparte, policy director of the Libra Association, was asked to comment on the news that five new companies would leave the Libra Association, “We are the world ’s leading company, social impacting organizations, and other interests. Focusing on advancing and continuing to build strong relationships with stakeholders, we look forward to the first meeting of the Libra Association to be held three days later (October 14th), where: We will announce the initial members of the Libra Society. '

It was reported that Democrat Brian Schatz urged Visa, Mastercard and Stripe CEOs to reconsider their participation in the project before the five new companies were reported. It was. Senator Schatz pointed out the problems of projects such as “promoting criminals and terrorist funding” with Libra, saying, “It destabilizes the existing international financial system.” It seems to have warned.

David Marcus, the leader of Calibra, who develops a Libra-only wallet app, said on his Twitter account: “Visa and Mastercard respect the decision to refrain from joining Libra until other regulations are clear 'We have officially acknowledged that Visa and Mastercard have left the Libra Society at the time of writing.



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