Facebook’s Libra Cryptocurrency Faces Exodus of Partners

Facebook’s troubled cryptocurrency initiative, Libra, suffered new blows on Friday as the departures of key partners became an exodus.

Stripe, Mastercard, Visa and eBay said they were all pulling out of Libra, a week after PayPal became the first company to drop out. While they continue to support the idea of Libra, the companies said, they will no longer be part of the coalition that is backing the effort.

Also see:

Payments giants abandon Facebook's Libra cryptocurrency
Mastercard, Visa, eBay and payments firm Stripe have pulled out of Facebook’s embattled cryptocurrency project, Libra.

Facebook's Libra currency abandoned by major financial companies
Facebook Inc's ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa Inc quit the group behind the project.

Leave a Reply

Your email address will not be published. Required fields are marked *