Related: Facebook presents a new payment system on its social media
Facebook loses some chief partners, like eBay, Stripe, Visa and MasterCard. Regulators and lawmakers criticised the Libra project, which brought to thought will the project even persist?
Before the opening meeting of Libra Association in Geneva, which is planned to be held on Monday, the initial partners must have officially sign that they're supporting the project. The first partner, who rejected to do it was PayPal. Despite difficulties that are raising day by day, spokeswoman of the Association insured that the meeting is going to continue as it was intended.
The spokeswoman mentioned that they are concentrated on proceeding their work and building an influential association, which intends to generate a transparent, reliable and customer-friendly global system, that will destroy all the financial boundaries around the world.
David Marcus twitted about this, assuring that the retreat of six partners won’t crash the effort:
I would caution against reading the fate of Libra into this update. Of course, it’s not great news in the short term, but in a way it’s liberating. Stay tuned for more very soon. Change of this magnitude is hard. You know you’re on to something when so much pressure builds up.
— David Marcus (@davidmarcus) October 11, 2019
Mastercard wrote that their organisation will stay concentrated on their strategy and their attempts to facilitate worldwide financial inclusion and that they think that such initiatives like Libra have their benefits.