There are a lot of eyes on the upcoming Libra digital currency. For Facebook, a lot of the initial support had already dissipated.
In fact, the list of partners bailing on Libra has grown relatively long in recent months.
Despite noting strong support from early backers happily paying $10 million for running a node, the situation has taken a turn for the worse.
As a result, the Libra Association now has plenty of vacant seats waiting to be filled.
The latest company to depart is Vodafone.
According to the company, this has nothing to do with all the regulatory scrutiny Facebook’s pet project is facing.
Instead, the UK telco wants to refocus its attention on M-Pesa, its existing digital payments solution.
It is the eighth company to drop support for this project since Q3 of 2019.
Other noteworthy departures include eBay, Stripe, Visa, Mastercard, PayPal, and Mercado Pago.
It is evident that none of the existing financial players wants to get involved in a project that seemingly can’t meet regulatory requirements.
However, there is a chance that the situation will turn around.
If positive regulatory news follows in the next few months new partners may decide to jump on the bandwagon.
Until that happens, however, it seems unlikely that Facebook’s Libra will get off the ground.
The tokenized equities sector is accelerating rapidly, and xStocks has now crossed a defining milestone:…
Coinbase-incubated Layer 2 network Base is entering a new phase of its development, moving toward…
Zora has officially launched its new “attention market” on the Solana blockchain, marking a bold…
The XRP Ledger has introduced a new on-chain trading framework that signals a notable shift…
A new milestone in the evolution of crypto investment products is set to unfold as…
A major milestone is unfolding in the blockchain economy as Polygon records a historic “flippening”…