Vodafone has become the latest company to leave the Facebook-led Libra Association, joining the likes of eBay, MasterCard, and PayPal. These firms were all founding members of the Association, but left for various reasons, including regulatory concerns.
Per BBC, a Vodafone spokesperson in an announcement said that Vodafone is fully committed to contributing to extending financial inclusion, but decided to focus its efforts on its mobile payments platform M-Pesa, in a bid to expand it out of the six African countries it’s currently available in.
Dante Disparte ead of policy and communications for the Libra Association, speaking to CoinDesk said:
“Although the makeup of the Association members may change over time, the design of Libra’s governance and technology ensures the Libra payment system will remain resilient.”
The Association is said to be looking to add more members later this year, and reportedly has a waiting list of over 1,500 companies.
Facebook’s Libra is set to make global payments a swift one. Many people are really anticipating the launch of this great digital coin.