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> Unlike previous stablecoins, Libra will not be issued by a central party. Instead, Facebook has enlisted 27 fellow Silicon Valley titans—among them PayPal, Vi
by the_duke 7y ago
> Unlike previous stablecoins, Libra will not be issued by a central party. Instead, Facebook has enlisted 27 fellow Silicon Valley titans—among them PayPal, Visa, Spotify, Mastercard, Uber, and eBay ....
This really surprises me, since it is somewhat of a direct attack on Visa, Mastercard and Paypal. Maybe the thinking is that if Libra becomes a success, they'd rather be in on the deal, or they plan on becoming middleman and integrate it into their services.
- snarf21 7y agoThey joined because it allows them increased market share. This play is mostly about cross border remittance and the unbanked. This gives all these companies a percentage of all the money that gets moved in this way. They have almost no exposure to those customers today. And all they have to do is run some software on some servers and invest $10M. Seems like nothing but upside to me.