Facebook officially signs its Libra Association charter, elects board of directors

Written 8 months ago by IanDorfman

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 Small Libra iconLibra 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Additionally, the holding company behind Priceline, Kayak, and OpenTable rescinded their interest in joining shortly before this meeting.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