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14
Oct, 2019

Departures from Libra Alliance : Part 2

After Pay – Pal in the middle of the previous week, 4 big companies decided to opt out from Libra Alliance. The 4 companies are Visa, Mastercard, Ebay and Stripe.

 

The announcement didn’t come from a consortium of 4 but the points were the same in each announcement.

 

“We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the association’s ability to fully satisfy all requisite regulatory expectations.”

 

Libra’s answer was simple and stated that Libra embraces the open nature of the network, where companies and organizations can opt in and out whenever they want, without affecting network’s reliability and trustworthiness.

 

Those departures have a different significance as Visa, Mastercard and Stripe are payment providers and were the main pillar regarding use of Libra outside Facebook. Since the departure, the only payment provider in the alliance is Payu from the Netherlands.

The transactions outside from Facebook environment is an important factor, which will affect Libra’s success and adaptability rate from Facebook’s users.