June 18, 2024

Vodafone resigned from Libra Association, refusing to participate in the development of the Facebook project

</span>Association, refusing to take part indevelopment of the Facebook project&#8221; src=&#8221;/wp-content/uploads/2020/01/968dd7032d39776283d907b09ac02c0f.png&#8221; alt=&#8221;Vodafone withdrew from the Libra Association, refusing to take part in the development of the Facebook project&#8221; /></p>

British telecommunications company Vodafoneannounced its withdrawal from the Libra Association. The company's decision is identical to PayPal, Mastercard, Visa, which previously made a similar decision to leave the project from Facebook.

A Vodafone spokesman said the company intends to focus on developing its own products and providing affordable financial services to the poor.

When Facebook first launched itscryptocurrency project, 28 companies joined it and subsequently formed an association. However, since then, regulators in many countries have been skeptical about the idea of ​​​​creating a stablecoin, which has forced many companies to reconsider their decision regarding the project. PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe and Booking Holdings &#8211; and now Vodafone &#8211; have already left the Libra Association.

From the very beginning we talked about Vodafone's desiremake a real contribution to financial inclusion, &#8211; a company representative told CoinDesk, &#8211; We remain fully committed to this goal.

A representative of the Libra Association confirmed the factVodafone care. According to Dante Dispart, head of policy and communications, despite changes in the composition of the Association, Libra still guarantees stability in the payment system.

However, regular withdrawals of companies from the associationquestion Libra's ability to launch this year. In fact, according to a recent survey by The Block, 67.9% of industry insiders believe the project will not launch in 2020.