Earlier this month, it seemed like it was curtains closed for Libra, Facebook’s cryptocurrency project.
Over the course of one week, some of the largest firms in the Libra Association decided to renege on their promises. It started with PayPal, who missed a meeting with its partners, then followed Mastercard, Stripe, eBay, Booking Holdings, and Mercado Pago. But arguably most notably, payment processing giant Visa decided to bow out of Facebook’s cryptocurrency project. Unsurprisingly, regulatory concerns were cited by most of these firms.
The loss of these companies led many to state that the project was “dead” and would soon become nothing but a footnote on Facebook’s Wikipedia page.
But Alfred F. Kelly, the chief executive of the San Francisco-headquartered Visa, revealed in a recent interview that he is still open to joining hands with Facebook for the purpose of bolstering Libra. Whether or not this convinced the Libra skeptics that the project is alive and well remains to be seen though.
Visa and Libra Still a Possibility
Speaking to Spanish publication Economico Valor (Economic Value) in a recent interview, Kelly asserted that he is still maintaining a communications channel with Facebook regarding cryptocurrency, as his company sees the value of this technology and its ability to benefit those that don’t have access to banking services. Underscoring Visa’s vision, the CEO stated,
“As a curious and open company — and given the leadership we have in the payments ecosystem — we want to engage in everything in the payment space until we reach a point where we believe our engagement is no longer positive.” Read More...