September 27, 2020

Visa, Mastercard, PayPal and Stripe are not ready for official entry into the Libra Foundation

Visa, Mastercard, PayPal and Stripe are not ready for official entry into the Libra Foundation

According to a new article by Bloomberg, Visa, Mastercard, PayPal and Stripe, refused official participation in the stablecoin project Libra

Four global payment companies, keyparticipants in the traditional market strive to maintain good relations with regulators, as they are crucial in the successful work of payment companies. According to a Nilson report, Visa and MasterCard are among the most popular global payment systems.

In turn, the heads of payment companiesConcerned about Facebook privacy issues. Executives also believe that Facebook is exaggerating the level of support that regulators around the world demonstrate. Since the announcement of the Libra project, almost all countries of the world have responded to the new development. Many of them reacted quite critically to her.

Facebook is currently seeking to increasesupport for the Libra Association. Meanwhile, according to the article, the technological development of Libra is moving faster than expected. Calibra and four other members of the Libra Association are involved in testing the network of nodes and the transaction sending process.

Despite technological progress, the Libra projectremains uncertain as Libra members rethink their obligations in the face of a monumental, unprecedented regulatory departure.