Mastercard, Visa, eBay, Stripe and Mercado Pago leaves the Libra cryptocurrency project

Payments companies Visa, Mastercard, Stripe and Mercado Pago along with the online retailer eBay, confirmed that they are leaving Facebook’s cryptocurrency project Libra. Major payment companies were supposed to be among the founding members of the Libra Association, governing body of Libra cryptocurrency. In the statement for Financial Times, eBay and Stripe stated regulatory uncertainty to be a determining factor. Visa spokesman said in a statement: ‘We will continue to evaluate, and our ultimate decision will be determined by a number of factors, including the Association’s ability to fully satisfy all requisite regulatory expectations’. Earlier this week payment processor PayPal also announced withdraw from the Libra Association. Cancellations are coming only a few days prior to the first inaugural meeting of Libra Association, set for 14th October in Geneva, on which Association will announce their initial members. In a reaction to news, Calibra’s CEO David Marcus said on Twitter that he respects companies decision to wait until there’s regulatory clarity.