Visa, EBay, Stripe and Mastercard have announced that they are withdrawing from the Libra Facebook Association and the associated stablecoin project.
On October 11, Bloomberg announced that Ebay, Stripe and Mastercard had decided to withdraw from the Libra cryptocurrency project on Facebook. Within a few minutes Visa said it had also decided not to join the Libra Association, according to The Block.
The news came one week after the PayPal payment processor announced its withdrawal from the Libra stablecoin project and the regulators continued to review the project.
The companies have expressed respect for Facebook's vision and say they see further potential in the project, but for now they have decided to redirect their activities.
