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News Link • Business/ Commerce

Despite defections, Facebook officially launches Libra

• https://www.chron.com by Ken Sweet

The Libra Association, the nonprofit that will govern the currency, officially signed on 21 charter members on Monday at the organization's inaugural meeting in Geneva. Originally the Libra Association had 27 potential members, but several companies dropped out in recent days, including Visa, Mastercard and PayPal.

Most of the remaining members of the Libra Association consist of venture capital firms, who often have an eye on emerging technologies and align with Facebook's interests, as well as nonprofits. But some larger companies who are now members of the association include Uber, Lyft, Spotify and European telecommunications company Vodafone. The association said in a statement that an unnamed additional 180 entities have expressed interest and have met the initial requirements to join.


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