Visa, Mastercard, PayPal & Stripe Hadn’t Join Libra

Payment companies Visa, Mastercard, PayPal and Stripe are in no hurry to sign official documents on participation in the digital currency project Facebook, Bloomberg reports.

Firms believe that Facebook is exaggerating the level of support for the project from regulators, who express more and more doubts about Libra. Payment providers fear that participation in the project will negatively affect their relations with regulatory authorities, which are critically important for their business.

Companies are also concerned about Facebook data processing and privacy issues.

Facebook is keen to sign the Libra Association by October 14 to formally secure the participation of companies announced in June in the consortium. Despite the fact that the signing of the charter does not oblige potential participants to invest $ 10 million in the project, they hesitate regarding this step.

The Minister of Finance of France Bruno Le Mayr spoke out against the development of the Libra project in Europe, the German government went even further, deciding to ban all such stablecoins.