Libra: are Visa and Mastercard called out?

Libra: are Visa and Mastercard called out?

According to rumors currently circulating, some companies that initially gave their support to the project Libra could abandon the cryptocurrency of Facebook before its official launch scheduled for next year. Among them there would be Visa is MasterCard, two of the largest credit card circuits on the planet.

To report this news in search of confirmation would be the Wall Street Journal, a US newspaper that would refer to a source according to which not all the representatives of Libra Association they would have responded with the same enthusiasm to a recent proposal by Mark Zuckerberg, to expose himself publicly to support the promotion of virtual currency.

In essence, the founder of Menlo Park would have suggested responding to the concerns expressed by banking authorities and regulatory bodies with a marketing campaign and official communiques exposing the advantages of a stable digital currency, lacking the territorial limits that characterize the other currencies and capable of eliminate the costs associated with money transfer.

Given the weight of the two companies, a possible defection by Visa and Mastercard could trigger a domino effect capable of wrecking the entire project. How many of the other 26 companies that are part of the Libra Association Would they be willing to take the risk of betting on an initiative that other well-known names do not believe in?

Wanting to believe the rumors of the WSJ, the hypothesis of a postponement for the debut of Libra would become more and more probable, Zuckerberg could not have alternative strategies to avoid further forfeits. In fact, it is possible that the underestimation of overly complex and fragmented monetary regulations has led to an acceleration of time that is impractical to the test of facts.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *