Visa, MasterCard, Stripe, eBay pull out of Facebook’s Libra cryptocurrency project

  15 October 2019    Read: 1234
Visa, MasterCard, Stripe, eBay pull out of Facebook’s Libra cryptocurrency project

Visa, MasterCard, Stripe and eBay have pulled out of the Facebook’s Libra Association project for the creation of own cryptocurrency, Russian media reported.

Libra co-founder David Marcus said that it’s too early to talk about the fate of cryptocurrency.

“The pressure has been intense (understatement), and I respect their decision to wait until there’s regulatory clarity for Libra to proceed,” Marcus tweeted.

Visa spokesperson said that the company will engage in further evaluation of the project and will make the final decision on the basis of several factors, including whether the Libra Association will meet all the necessary requirements of the regulators.

Stripe spokesperson said the company supports projects aimed at making online commerce more accessible to the whole world and admitted that the company would return to work with Libra at later stages.

The PayPal payment system has recently announced the withdrawal from Facebook’s Libra project.

Libra is a cryptocurrency that is developed and managed by the Swiss fund and a consortium of companies led by Facebook. It is expected that the launch of Libra at the global level will take place in the first quarter of 2020, and testing will begin at the end of 2019.


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