eBay, Stripe, Visa and Mastercard also withdraw support for Facebook Libra

eBay, Stripe, Visa and Mastercard have announced that they are withdrawing their support for the cryptocurrency Libra. Facebook’s digital currency already lost support for Paypal, after the project has been criticized in recent times.

In a statement to the Financial Times, eBay said it would shift its focus to its own payment system. Stripe, an American payment company, states that it believes that Libra has a lot of potential, but that it will only decide at a later stage whether it will actually participate. A spokesperson then informed The Verge that Visa is stepping out. Mastercard has also left the Libra Association, the organization responsible for the digital currency.

Last week, Paypal already announced that it was withdrawing its support for Libra, after rumors arose shortly before. Although Paypal did not say this in so many words, sources from The Financial Times believe that the company is concerned about the money laundering possibilities and the general resistance that has arisen against Libra.

Facebook announced its digital currency Libra in June, but since then there has been constant criticism of the project. Politicians in both the United States and the European Union announced that they would investigate the plans. That seems to have deterred many companies from participating.