According to several news media, members of the Libra Association and associations, Mercado Pago, Visa, eBay, Stripe and MasterCard have become the latest five Libra Stabilizer projects officially withdrawn from Facebook, following PayPal. the company.
Mercado Pago is the payment arm of Mercado Libra, a Latin American e-commerce giant.
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“ We highly respect the vision of the Libra Association; however, eBay decided not to continue as a founding member. Currently, we focus on providing eBay's hosted payment experience to our customers. ” An eBay spokesperson told The Block.
“ Stripe supports projects designed to make it easier for people around the world to use online commerce. Libra has this potential. We will keep a close eye on its progress and continue to work with the Libra Association at a later stage. ” Stripe spokesperson told the UK Times.
“ Visa has decided not to join the Libra Association. We will continue to evaluate and the final decision will depend on a number of factors, including the ability of the Association to fully meet all necessary regulatory expectations, ” said a Visa spokesperson. However, Visa said it still believes that the potential of the blockchain is better than existing payment systems. A spokesperson for Visa added:
“Visa's continued interest in Libra comes from our belief that a well-regulated blockchain network can extend the value of secure digital payments to more people and places, especially in emerging and developing markets.”
A week after PayPal became the first company to announce its withdrawal, the five companies decided to leave. These companies are among the first 28 members of the 28 Libra project. Earlier this week, two US senators, Sherrod Brown and Brian Schatz, wrote to Visa, MasterCard and Stripe asking them to reconsider their partnership with Libra. But all three companies are withdrawing before the private governance meeting scheduled for next Monday, when members will sign a formal charter to join the Libra Association.
As The Block previously reported, according to Dante Disparte, head of policy and communications for the Libra Association, 1,500 entities “showed enthusiasm for participation.”
In a tweet, Libra's co-founder David Marcus said on Twitter:
“Because Visa and MasterCard are withdrawing at the last minute, they are under great pressure. I respect their decision and wait for the regulator to be clear. Libra will continue to confront the threats caused by their business (many).”
Marcus added that
"He will be cautious and will not let this member change affect the fate of Libra. Of course, this is not good news in the short term, but to some extent it is being liberated. Stay tuned for more progress. The change is hard."
As of press time, PayU is the only remaining company in the payment category of the Libra Association. PayU is a Dutch-based electronic payment company.