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Most payment companies have now pulled out of Facebook’s Libra project. Visa, Mastercard, Ebay, and Stripe have followed Paypal in dropping out of the project amid regulatory concerns. The Libra Association has responded to the exodus of these companies. David Marcus*, who is in charge of the project, calls it “liberating.”
Libra Losing Support of Major Companies
Visa, Mastercard, Stripe, and Ebay announced Friday that they will no longer be part of Facebook’s Libra project at this time. The move follows Paypal’s announcement last week to drop out of the project. Another payment-related firm, Mercado Pago, has also pulled out, leaving only the Netherlands-based Payu as the only payment firm left in the Libra Association. Mercado Pago primarily serves Latin America.
The remaining members of the Libra Association are mostly venture capital, telecom, blockchain, technology, and nonprofit groups.
* On Tuesday (3 months ago), Head of Calibra and decorated General at Facebook, David Marcus, testified before the Senate Banking Committee in an attempt to defend Facebook’s Libra Coin Cryptocurrency initiative from being shut down. This follows last week’s news that Mr. Marcus was declared public enemy number one by all government agencies around the world following his attempt to overthrow the global economy by trying to remove the US Dollar as the world reserve currency and replace it with Mark Zuckerberg’s new “supernational currency,” a fancy way of saying that “He’s the captain now.”
David Marcus
Calibra General
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