Tag Archives: visa

On Saturday we reported how, after PayPal Holdings Inc. abandoned Facebook’s association Libra, the other big payment giants followed its example.Mastercard, Visa, eBay, Stripe and Mercado Pago have also pulled out and it seems this could become pretty large obstacle to the development of this cryptocurrency.Director at VanEck Gabor Gurbacs said the companies that abandoned Libra Association were actually pressured into leaving.As per Gurbacs, there is growing concern for Facebook’s ability...

Recently we reported about how PayPal, one of the founding members of the Libra Association abandoned the whole project. However, it seems it wasn’t the only one. Just for a reminder, there were previously 28 members of the association, but it seems that they couldn’t handle the issues Libra is currently facing, most especially the problems surrounding regulatory support from relevant authorities. Now Mastercard, Visa, eBay, and payments firm Stripe have decided not to participate in...

Things do not seem to be going as planned for Facebook’s Libra as Mark Zuckerberg is set to testify before the US Congress later in the month. This was revealed by the Chairwoman of the United States House Committee on Financial Services Maxine Waters (D) in a press statement yesterday. The Chairwoman indicated that a letter had been sent to the Social media giant in July “requesting an immediate moratorium on the implementation of Facebook’s proposed cryptocurrency, Libra, and digital...

When Facebook‘s cryptocurrency Libra started struggling with keeping its co-workers to keep partners on board and all of the institutions happy, an alternative called OpenLibra came to address some of Libra’s potential flaws.OpenLibra is described as an “open platform for financial inclusion,” with a tagline: “Not run by Facebook” and it was announced at Ethereum Foundation‘s Devcon 5 conference in Osaka, Japan.Be it as it may, thirty blockchain companies and nonprofit organizations decided...

Facebook’s forthcoming digital currency, the Libra, is probably the most uncertain project in the cryptocurrency industry at the moment. Ever since the company announced its plans to issue the asset, there has been significantly heavy backlash both from the public and also from the U.S. Congress, so much that the earlier proposed date for early next year is quite shaky, if not completely impossible. Now, a crypto futures exchange firm seems to be taken advantage of all the uncertainty of the...

Apart from its ongoing antitrust investigation as put forward by the Federal Trade Commission (FTC), Facebook is also having a rough time regarding its proposed digital currency, the Libra. A few months ago, Facebook announced its plans to float its own cryptocurrency and also released a whitepaper to the effect.As part of the announcement, a Libra Association was announced, an association made up of several big companies including Uber, Mastercard, Visa, eBay, Spotify and many other...

According to the Wall Street Journal, Visa and MasterCard are getting cold feet about helping build payment infrastructure for Facebook’s Libra project. The Wall Street Journal said that a number of financial partners were starting to back away from Libra because of regulatory concerns. This comes on the heels of a September 9 meeting in Switzerland in which financial regulators from across the globe questioned members of Libra. It also follows the skepticism expressed by Congress in July,...

There has been a lot of negativity surrounding the launch of Facebook Libra over the last few months. Global regulators and banking institutions have showered severe criticism over the project. However, despite several kickbacks, the Libra Association is proceeding ahead with its plans of mainnet launch.Recently, the Libra Association has published a new roadmap that highlights 4 major milestones to be attained before the launch of the Libra network. The Calibra team says that the first...

Das Londoner Fintech-Start-Up Revolut ist auf Expansionskurs und hat angekündigt, bald neben den bislang angebotenen Mastercard-Kreditkarten auch Visa-Karten ausgeben zu wollen. Eine entsprechende Vereinbarung zwischen dem Kreditkartennetzwerk und dem Start-Up erlaubt das. Die Erschließung der nord- und lateinamerikanischen Märkte sowie Asiens ist für Revolut der primäre Grund für diese Partnerschaft....

Since its launch on June 18, 2019, Facebook’s Libra project has encountered mixed reactions. Now, four payment companies that had joined the social media giant as founding members of the Libra Association are hesitant. They have developed cold foot over whether to formally sign on to the crypto project. The issue was explained by people familiar with the matter.According to a new Bloomberg report, MasterCard, Visa, Stripe, and PayPal are allegedly stalling at officially joining the...