Facebook's crypto asset “Libra” Paypal withdraws Oct. 5 at 15:47
The US electronic payment giant Paypal has announced its withdrawal from the concept of the cryptocurrency Libra, which is planned to be issued by Facebook in the United States. Credit card giants such as master cards and visas are reportedly reviewing participation, and it is expected that Facebook will be forced to review the plan.
American Facebook plans to issue a crypto asset `` Libra '' that can also be used for cross-border remittance next year, but concerns that central banks in each country can properly manage personal data and will not be misused for money laundering There is a view that it takes time to start the service.
Under these circumstances, the US electronic payment giant Paypal, a founding member of the Libra Association, which manages Libra, announced its withdrawal from the association on the 4th. This is the first time that a founding member has left the company, and PayPal says "to concentrate on existing business and make financial services more democratic."
With over 20 global companies participating in the Libra Association, Libra has been considered convenient and likely to spread at a stretch, but major credit card master cards and visas are also It is reported that participation is being reconsidered because of fear of worsening the relationship, and it is expected that Facebook will be forced to review the plan in the future.