Ebay, Mastercard, Stripe and Visa Back Down From Facebook's Libra Project

It's just another dent for the proposed cryptocurrency

Driving relevance means driving growth. Join global brands and industry thought leaders at Brandweek, Sept. 11–14 in Miami, for actionable takeaways to better your marketing. 50% off passes ends April 10.

Another day, another backer dropping from Facebook’s Libra to distance themselves from Facebook’s cryptocurrency project. Today, Ebay, Mastercard, Stripe and Visa each said they would drop their support of Facebook’s proposed cryptocurrency, just days before the remaining backers are set to meet in Geneva to discuss the project’s future.

Ebay and Stripe gave statements to The Financial Times describing that, though Libra has potential, neither, in good faith, could continue their backing. “We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member,” in favor of working on its own native offerings for eBay customers, eBay said.




Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in