No Companies Have Officially Joined Libra Association Says Visa CEO

CoinTelegraph

Alfred F. Kelly Jr., the CEO of Visa, said that no companies have officially joined Libra. At this stage, the 20-some companies involved with the foundation have reportedly only declared interest via a nonbinding letter of intent.

According to an apparent transcript of a Q3 2019 earnings call for Visa dated July 23, Kelly said:

“We have signed a nonbinding letter of intent to join Libra. We’re one of – I think it’s 27 companies that have expressed that interest. So no one has yet officially joined.” 

As per the transcript, Kelly was responding to an inquiry from Bryan C. Keane — an analyst at Deutsche Bank Securities. Keane said there was “some confusion in the market” and asked whether Libra would be “a strategic partner for Visa or potential disruptive threat.”

Regarding Visa’s intended involvement, Kelly said that the company thinks Libra would benefit the company, provided that it can meet regulatory requirements:

Binance Banner  

“We’re in discussions and our ultimate decision to join will be determined by a number of factors, including obviously the ability of the association to satisfy all the requisite regulatory requirements. So, Bryan, in my estimation, it’s really, really early days and there’s just a tremendous amount to be finalized. But obviously, given that we’ve expressed interest, we actually believe we could be additive and helpful in the association.”

As previously reported by Cointelegraph, Libra has been criticized for its choice to entrust its governance to a consortium of corporate entities. On June 14, cryptographer Sarah Jamie Lewis wrote:

“Can’t wait for a cryptocurrency with the ethics of Uber, the censorship resistance of Paypal, and the centralization of Visa, all tied together under the proven privacy of Facebook.”

Congresswoman Alexandria Ocasio-Cortez also called Libra a “currency controlled by an undemocratically-selected coalition of largely massive corporations” and challenged Calibra head David Marcus’ views on sovereign currency in one of the recent congressional hearings on Libra.

Go to Source
Author: Max Boddy


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.