Credit giant Visa leaves Facebook's Libra cryptocurrency group
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News of Visa’s departure comes on the back of a number of other high profile exits from the consortium that is only a few months old.pulled out of the consortium, which was launched in June with 28 members. Earlier this week PayPal also left the group.Visa has decided not to join the Libra Association at this time.
The libra cryptocurrency, scheduled to go live in 2020, is being designed to function like bitcoin and ethereum in that its transactions are public, making it perhaps more attractive to regulators. But it would also be backed by fiat assets such as the U.S. dollar and government bonds. Theoretically, the currencies used to back the currency could pay dividends that would accrue to the founding association members.
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