Mastercard, Visa, eBay and Stripe pull out of Libra

October 14, 2019 | Blockchain

Written by FinTech Alliance

Mastercard, Visa, eBay and Stripe pull out of Libra

After PayPal’s withdrawal from Project Libra last week, five more companies have followed suit.

In Brief:

  • Mastercard, Visa, eBay, Stripe and Mexican payments platform Mercado Pago have all ceased involvement in the Libra Association.

  • This means the project no longer has any major US payment processors involved.

  • The withdrawal comes before Monday’s first meeting of the Libra Council.

What does this mean?

Like PayPal, most of the businesses have stressed they have respect for the project and will follow it with interest – but not enough to give it their backing at this time. Facebook insists that even though the “makeup” of the Libra Association changes, the development of the network will continue as planned. 

 

More in Blockchain

GSX launches security tokenisation platform
Blockchain
May 11, 2020

GSX launches security tokenisation platform

Global FinTech, Gibraltar Stock Exchange Group, has launched a security tokenisation platform. In...

Libra has its first CEO
Blockchain
May 07, 2020

Libra has its first CEO

The Libra Association, in charge of Facebook’s currency project, now has a CEO. In Brief:...

Checkout.com joins Libra project
Blockchain
May 04, 2020

Checkout.com joins Libra project

British e-commerce FinTech Checkout.com has joined the Libra Association. In Brief: Libr...

Blockchain
December 20, 2019

See the full picture of the value of blockchain

In brief When done right, blockchain is about rethinking business models and relationships bet...

Blockchain
December 20, 2019

How public blockchains are making private blockchains obsolete

The era of private blockchain comes to a close as the value of public blockchains is realized. 

Blockchain
November 29, 2019

Global Blockchain Race: Which Countries Are in the Lead?

FinTech is having a great decade. According to Carsurance, four of the most disruptive innovations i...

There are no Events in this category