In turn Visa, eBay, Mastercard withdraw, where will the Facebook virtual currency alliance go?

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eBay, Stripe, Mastercard and Visa simultaneously announced their withdrawal from Facebook’s virtual currency project Libra. A week ago, PayPal was the first member to make a decision amid increased regulatory scrutiny by the association.

In the announcement, the companies said they respected and saw the potential of the project but chose to focus on other efforts. A spokesman for Stripe confirmed that he would “still cooperate openly with the Libra Association later”. Visa “continues to assess and make final decisions depending on many factors, including the ability of the association to meet all necessary legal requirements.”

The Facebook virtual currency alliance originally had 28 members. Currently, only Mercadopago and PayU are the two payment companies supporting Libra. Uber and Lyft said they did not change their stance.

The decisions of eBay, Stripe, Mastercard and Visa were made just before Facebook CEO Mark Zuckerberg had to testify before the US Congress on the virtual currency project. Earlier, David Marcus, who was in charge of the Libra project at Facebook, testified.