A number of payment processors and fintech companies that joined Facebook Inc�...
) digital currency project Libra with great fanfare earlier this year, have abandoned the project, dealing a blow to the social media giant’s plans.
FILE PHOTO: Shadow of a 3D-printed Facebook Libra cryptocurrency logo is seen near cryptocurrency representation in this illustration taken, September 13, 2019. REUTERS/Dado Ruvic/File Photo/File Photo The move follows warnings from politicians and regulators around the world about the implications of creating a global digital currency and the threat it will pose to financial stability, undermining users’ privacy and facilitating money laundering.PAYPAL HOLDINGS INC eBAY INC
The e-commerce firm said on Friday it would no longer be the founding member of the Libra association as it wants to focus on rolling out its managed payments experience for customers.A spokesperson said on Friday Visa will not join Libra at this time, but the final decision will be based on different factors including the association’s ability to fully satisfy regulatory expectations.
The online travel agency will no longer be supporting Libra, CNBC tweeted on Monday. Booking Holdings did not immediately respond to Reuters' request for comment. (
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