Facebook Libra payments partners are wavering, sources say
Four payment companies that have joined Facebook Inc. as founding members of the Libra Assn. are wavering over whether to officially sign on to the cryptocurrency project, according to people familiar with the matter.
The Libra Assn. is asking the 28 founding members to reaffirm their commitment to the cryptocurrency project this month, according to three people familiar with the matter. Before Libra was unveiled, the companies signed nonbinding letters of intent to explore joining the association.Wednesday that the “[first] wave of Libra Assn. members will be formalized in the weeks to come.
Facebook has said repeatedly that the Libra Assn. will be responsible for making decisions about the currency, so its formal creation could mean regulators start to get better answers than Facebook has offered so far. Libra has started addressing regulators’ concerns by making tweaks to its technology and policies, such as its policies against money laundering, Monica added. Hundreds of organizations are on a waiting list hoping to join the association, Monica said, adding that no additional members have been admitted yet.
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