PayPal CEO Explains Withdrawal from Facebook’s Libra Association

Coinspeaker
PayPal CEO Explains Withdrawal from Facebook’s Libra Association
PayPal’s CEO Dan Schulman explained what reasons they had for taking a decision to leave the widely-discussed Libra Association.
PayPal CEO Explains Withdrawal from Facebook’s Libra Association

Continue reading at Coinspeaker
Source: CoinSpeaker

UK-based FinTech Firm Revolut Plans to Raise $500 Million for Global Expansion

Coinspeaker
UK-based FinTech Firm Revolut Plans to Raise $500 Million for Global Expansion
Popular for its digital banking services, Revolut is looking to expand its global footprint across the U.S., Japan and Singapore.
UK-based FinTech Firm Revolut Plans to Raise $500 Million for Global Expansion

Continue reading at Coinspeaker
Source: CoinSpeaker

Libra Project Should Not Be Headed by Facebook, Says Co-Founder of Ethereum

Coinspeaker
Libra Project Should Not Be Headed by Facebook, Says Co-Founder of Ethereum
Ethereum co-founder said that Libra should not be run by Facebook because the social media giant still hasn’t earned the people’s trust.
Libra Project Should Not Be Headed by Facebook, Says Co-Founder of Ethereum

Continue reading at Coinspeaker
Source: CoinSpeaker

Visa, Mastercard Debuts New Buy Button to Make Online Checkout Great Again

Coinspeaker
Visa, Mastercard Debuts New Buy Button to Make Online Checkout Great Again
Visa, Discover, Mastercard, and American Express have introduced a single payment button for checkout.
Visa, Mastercard Debuts New Buy Button to Make Online Checkout Great Again

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance to Introduce First Fiat-Crypto Trading Pair with Russian Ruble

Coinspeaker
Binance to Introduce First Fiat-Crypto Trading Pair with Russian Ruble
Binance CEO Changpeng “CZ” Zhao announced that they are preparing for launching fiat options, including the Russian ruble.
Binance to Introduce First Fiat-Crypto Trading Pair with Russian Ruble

Continue reading at Coinspeaker
Source: CoinSpeaker

Global Crypto Currency War Heats Up As Libra Garners Support From European Central Bank Director

European Central Bank Director, Benoit Coeure, in an interview with Bloomberg, has claimed that Global financial regulators have no plans to ban Facebook’s Libra or other stablecoins. However, digital currency projects will have to meet the highest regulatory standards.
Regulators Have No Plans to Ban Libra
Libra has been at the altar of criticism by regulators and politicians since its announcement in June. Interestingly, Coeure’s comments raise a ray of hope for Libra. He said,
“There is certainly no judgment that stablecoins shouldn’t exist,”
Not only has France pledged to block Libra’s launch, but European policymakers also have always been against Libra owing to its potential to threaten monetary sovereignty.
However, Coeure’s comments highlight that Libra is here to stay.
“In the case of Europe, neither the Commission nor the ECB intends to make Europe a no-fly zone for stablecoins. But stablecoins will have to meet the highest regulatory standards and adhere to broader public policy goals,”
he said.
The regulatory issues could further push its launch date, which has been planned for the end of June 2020. Despite the fact that seven of its founding members including Visa, Mastercard and Booking Holdings left the project, Libra is marching ahead. Coeure will present the recommendations in the G7 summit on stablecoins to finance ministers from the world’s seven largest economies gathering in Washington for the International Monetary Fund’s annual meetings.
Libra Will Lead To Faster Payments
Recently, Xavier Niel, French Tycoon and the founder of Telecoms group Iliad said that the coming of project Libra is “inevitable” and it will exist like other 1000+ cryptocurrencies in the market. Neil believes that the launch of Libra will result in more direct, interpersonal and fast payments. He further added that it will eliminate the need for middlemen, impact costs and end the monopoly of banks. He reiterated that the project has a net worth of $3.9 Billion and it is highly reliable and offers guaranteed data protection.
Coeure’s comments on Libra and stablecoins spell a ray of hope for digital currency projects, but it is still too early to say if these projects will actually get a green signal from regulators around the world. Will Libra see the light of the day or will regulators bodies banish it? Let us know what you think in the comments below.
The post Global Crypto Currency War Heats Up As Libra Garners Support From European Central Bank Director appeared first on Coingape.
Source: CoinGape

Libra Exec Is Confident Association Will Hit 100 Members before Official Launch

Coinspeaker
Libra Exec Is Confident Association Will Hit 100 Members before Official Launch
Libra’s interim managing director is quite sure the team will reach its goal of a hundred members by next year.
Libra Exec Is Confident Association Will Hit 100 Members before Official Launch

Continue reading at Coinspeaker
Source: CoinSpeaker

Calibra’s David Marcus says, ‘No one needs to trust Facebook to use Libra’

Facebook has been on the bad side of regulators across the globe ever since the Cambridge Analytica scandal broke out. To make matters worse, the social media giant announced the launch of Libra with the promise of financial inclusion by tapping into the cryptoverse. Additionally, the project had even listed leading companies in the fintech […]
The post Calibra’s David Marcus says, ‘No one needs to trust Facebook to use Libra’ appeared first on AMBCrypto.
Source: AMB Crypto

After Paypal, Mastercard, Visa, Stripe and eBay Abandoned Facebook’s Libra

Coinspeaker
After Paypal, Mastercard, Visa, Stripe and eBay Abandoned Facebook’s Libra
Mastercard, Visa, eBay, Stripe and Mercado Pago have all pulled out of the Facebook-led Libra Association following PayPal, which pulled its own support of the project earlier this week.
After Paypal, Mastercard, Visa, Stripe and eBay Abandoned Facebook’s Libra

Continue reading at Coinspeaker
Source: CoinSpeaker

Facebook’s Libra project loses support from Visa, Mastercard, eBay, Stripe

“Challenging the government’s monopoly on the printing press requires you to not be at the government’s mercy. This is the reason Bitcoin was released by anonymous entities, and it is also one of the reasons that cryptocurrencies backed by goods [even fiat currency] are a bad idea from a regulatory perspective.” These words were from […]
The post Facebook’s Libra project loses support from Visa, Mastercard, eBay, Stripe appeared first on AMBCrypto.
Source: AMB Crypto

eBay, Stripe and Mastercard Bid Adieu to Project Libra

Per a recent revelation by Bloomberg and Financial Times, eBay, Stripe, and Mastercard have exited Facebook’s controversial stablecoin project, Libra. 
eBay & Stripe Follow Same Suit as PayPal
The decision by eBay, Stripe, and Mastercard comes just a week after PayPal’s departure from the project. Interestingly, the firms were among the first 28 inaugural members of the Libra project. 
An eBay spokesperson said, 
“We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member. At this time, we are focused on rolling out eBay’s managed payments experience for our customers.” 
A Stripe spokesperson also spoke about Libra’s high potential and said that the company might again work with the Libra Association at a later stage. 
“Stripe is supportive of projects that aim to make online commerce more accessible to people around the world. Libra has this potential. We will follow its progress closely and remain open to working with the Libra Association at a later stage,” 
As a matter of fact, the announcement comes just two days before the Libra Association’s meet in Geneva, where the members are expected to sign a chartered agreement. Also, representatives from the companies will appoint a board of directors for the Libra Association at the meeting.
The meeting of the Libra Association is close to the G20 meeting on Oct 17-18th. The names in the list of 1500 interested parties and the existing structure of the Council will be instrumental to the progress and its public image.
While popular companies continue to back out of Libra, Xavier Niel, French Tycoon and the founder of Telecoms group Iliad said that the coming of project Libra is “inevitable” and it will exist like other 1000+ cryptocurrencies in the market. 
Will project Libra see daylight and get regulatory approval? Let us know what you think in the comments below!
The post eBay, Stripe and Mastercard Bid Adieu to Project Libra appeared first on Coingape.
Source: CoinGape

Breaking: Visa, Mastercard, eBay, Stripe All Leave Libra

Wow. Within the span of an hour or two, reports have revealed that Facebook’s crypto project, Libra, suffered some heavy blows.
It first started on Friday morning, with the Financial Times revealing that both eBay, the e-commerce/online marketplace giant, and Stripe, a fintech giant, have dropped out of the Libra Association.
Speaking to the outlet, an eBay spokesperson asserted that while the company “respects the vision of Libra”, the American firm will not be moving ahead with its participation in the Association, citing a focus on ” rolling out eBay’s managed payments experience for our customers.”
Related Reading: Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs
Stripe made a similar comment, telling the FT that it is “supportive of projects that aim to make online commerce more accessible for people”, but will not be moving forward with the Facebook-backed crypto project at this time.
Within the hour or two after the FT’s revelatory report, both Mastercard and Visa — seen by many in the crypto community to be the Association’s two most important partners — also revealed that they will be rescending their membership. In their own comment, Visa cited Libra’s inability to “fully satisfy all requisite regulatory expectations.”

FIVE household names have pulled out of $LIBRA (Visa, Paypal, Stripe, Ebay, and Mastercard). I doubt they'll be the last.
Regulators are stonewalling it.
Zuck is testifying before Congress Oct. 23rd.
Now you can long/short its chance of even launching. https://t.co/LkIc1Kiswy
— The Crypto Dog (@TheCryptoDog) October 11, 2019

For now, the deluge of Libra leavers has stopped. It remains to be seen if this is the end of the Libra Association’s internal turmoil, as reports indicate that the ratification of the consortium’s charter is rapidly approaching.
This is a developing story. NewsBTC will update it once we get more information. 
Featured Image from Shutterstock
The post Breaking: Visa, Mastercard, eBay, Stripe All Leave Libra appeared first on NewsBTC.
Source: New feedNewsBTC.com

Facebook’s Libra to Be Forked to ‘OpenLibra’

Coinspeaker
Facebook’s Libra to Be Forked to ‘OpenLibra’
Announced at Ethereum Foundation’s Devcon 5 conference, OpenLibra is described as an “open platform for financial inclusion,” with a telling tagline: “Not run by Facebook.”
Facebook’s Libra to Be Forked to ‘OpenLibra’

Continue reading at Coinspeaker
Source: CoinSpeaker

You Can Bet on whether or not Facebook’s Libra will Launch by 2020

Coinspeaker
You Can Bet on whether or not Facebook’s Libra will Launch by 2020
Investors can bet on Libra’s launch on the CoinFLEX platform. The firm offers derivatives that let traders buy into futures to be delivered in Libra tokens.
You Can Bet on whether or not Facebook’s Libra will Launch by 2020

Continue reading at Coinspeaker
Source: CoinSpeaker

PayPal Absent From Libra Association Meeting, Might Abandon Facebook’s Project Entirely

Coinspeaker
PayPal Absent From Libra Association Meeting, Might Abandon Facebook’s Project Entirely
PayPal was the only company noticeably absent at the recently held Libra Association meeting. The payment giant is reportedly planning to quit Facebook’s project to keep its hands clean of regulatory dirt.
PayPal Absent From Libra Association Meeting, Might Abandon Facebook’s Project Entirely

Continue reading at Coinspeaker
Source: CoinSpeaker