Payments giants abandon Facebook's Libra cryptocurrency

  • 11 October 2019
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October 11, 2019 By Dave Lee

Mastercard, Visa, eBay and payments firm Stripe have pulled out of Facebook’s embattled cryptocurrency project, Libra.
Their move, first reported in the Financial Times, follows the withdrawal of PayPal, announced last week.

It represents a huge blow to the social network’s plans to launch what it envisions as a global currency.
The project has drawn heavy scrutiny from regulators and politicians, particularly in the US.

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