PayPal says goodbye to Libra

PayPal says goodbye to Libra

In the last few days some rumors had circulated on the Net according to which Visa and Mastercard would have been ready to abandon the Libra Association, this in response to Facebook which would have appreciated a greater involvement of partner companies in promoting the advantages of cryptocurrency still awaiting the official launch.

The real position regarding the two credit card circuits would not have been confirmed yet, while another important name in the electronic payments sector would have made it known that they no longer wanted to deal with the project: PayPal. The US company would have motivated this decision with the need to focus its commitments on its core business.

For its part, PayPal intends to continue investing in the democratization of financial instruments, especially in favor of those users who have more difficulty in accessing them, but the communiqué published in recent hours would point out that Libra would not seem to be the ideal tool to reach this result.

The answer of Dante Disparte, head of the division Head of Policy & Communications of the Libra Association, would not have been long in coming but would have been extremely diplomatic: all the members of the organization are free to make their own evaluations on the costs and benefits deriving from participation in the development of Libra.

The cryptocurrency should arrive on the market within the next year, but at this point it is not excluded that other companies can follow the example of PayPal and leave the initiative desired by Mark Zuckerberg before it can really determine the problems to the detriment of the economy monetary policy that different analysts and regulators foresee.

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