Libra's supporters say it could open online purchasing to millions of people who do not have access to bank accounts and could reduce the cost of sending money across borders. — AFP
Facebook faces a rough road ahead with Libra, but defections by high-profile partners are still unlikely to spell the end for the digital currency.
On Friday, Visa and MasterCard announced their departures from the Libra project, as did e-commerce giant eBay and payments startup Stripe. Last week, PayPal became the first major company to drop out of Libra. The exodus comes amid growing – not to mention stronger-than-anticipated – regulatory pushback against Libra in the US and elsewhere.
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