Four payments companies that have joined Facebook Inc. as founding members of the Libra Association are wavering over whether to officially sign on to the cryptocurrency project, according to people familiar with the matter.
Visa Inc., Mastercard Inc., PayPal Holdings Inc., and Stripe Inc. are undecided about formally signing onto Libra’s organizing charter because they’re concerned about maintaining positive relationships with regulators who have reservations about the project, the people said.
Even as Facebook has publicly drawn fire, the Libra organization’s members have worked in the background to hash out details of a chartering document to formally establish the non-profit so that the group’s work to stand up the payments system can move forward.
The work has proven contentious due to continued uncertainty about the regulatory implications of the project, according to two of the people.
Post Your Comments