Major payment firms hesitate to back Facebook’s Libra
Visa and Mastercard are reportedly concerned with the regulatory scrutiny into Facebook's digital currency.
Four payments companies that have joined Facebook Inc. as founding members of the Libra Association are wavering over whether to officially sign on to the cryptocurrency project, according to people familiar with the matter.
Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Stripe Inc. are undecided about formally signing onto Libra's organizing charter because they're concerned about maintaining positive relationships with regulators who have reservations about the project, the people said.
Executives at the payments companies believe Facebook oversold the extent to which regulators were comfortable with the project and are concerned about the percept...