Mastercard, Visa, Ebay and two others abandon Facebook-backed Libra

Facebook’s ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa quit the group behind the project.
The two companies announced they would leave the association Friday afternoon, as did EBay, Stripe and Latin American payments company Mercado Pago. They join PayPal which exited the group a week ago, as global regulators continue to air concerns about the project.
The latest exodus leaves the Libra Association without any remaining major payments companies as members, meaning it can no longer count on a global player to help consumers turn their currency into Libra and facilitate transactions.