Facebook officially signs its Libra Association charter, elects board of directors
Despite being plagued by numerous privacy scandals and notable companies backing out of their support, Facebook's Libra cryptocurrency has now formally launched its governing association's charter, board of directors, and executive team.
The following 21 companies are a part of the formal creation and ratification of the charter behind the company that is behind the Diem cryptocurrency:
Anchorage Andreessen Horowitz Bison Trails Co. Breakthrough Initiatives, L.P. Calibra, Inc. (a subsidiary of Facebook) Coinbase, Inc. Creative Destruction Lab Union Square Ventures Farfetch UK Limited Iliad Kiva Microfunds Lyft, Inc. Mercy Corps PayU Ribbit Capital Spotify AB Thrive Capital Uber Technologies, Inc. Vodafone Women's World Banking Xapo Holdings Limited
Though this list of supporting companies is nothing to sneeze at, the list of companies that pulled out of the association before its formal charter implementation is also very prominent:
eBay Mastercard Mercado Pago PayPal Stripe Visa
Additionally, the holding company behind Priceline, Kayak, and OpenTable rescinded their interest in joining shortly before this meeting.
Without Visa and Mastercard, Libra has lost every payment processing company outside of PayU, which does not operate with Canada, the United States, or large portions of Africa and the Middle East.
The Libra payment network is scheduled to launch within the 2020 calendar year.
Further coverage: Ars Techinca Reuters Time
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