Vodafone Leaves Facebook’s Libra Initiative & Joins Visa, eBay, MasterCard, PayPal and others

Vodafone has come out as the latest company to leave Facebook’s Libra initiative. For those who do not know, Libra Association is a group of members supporting Libra – a cryptocurrency initiative by Facebook.

We have seen in the past how Bitcoin faced severe consequences, yet Facebook has embarked on the mission to help businesses and other entities on Facebook by giving them their own payment method.

When Facebook started this mission out, many companies and top names were onboard with them; however, the seats at the table are one by one emptying.

Recently, a spokesperson for Vodafone mentioned that Vodafone will mostly focus on M-Pesa digital payment service rather than Libra. The M-Pesa is expected to grow and move to newer regions and nations as it is only operating in Africa as of now.

Although the supporters are leaving Facebook’s initiative one by one but the company stays on its ground by saying that the members keep changing with time, but the Libra’s governance and the roll-out of this payment system will remain resilient.

Vodafone is not the first to leave Libra – eBay, MasterCard, PayPal, Booking Holdings, Stripe, and Visa is others that left Libra before Vodafone.

The list of companies to join Libra is long, but these were some of the best payment service companies to leave Facebook in between.

Photo: Chesnot via Getty Images

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