Facebook Inc.’s ambitious efforts to establish a global digital currency called Libra suffered severe setbacks last week, as major payment companies including Mastercard and Visa Inc. quit the group behind the project.
The two companies announced they would leave the association on Oct. 11, as did EBay Inc., Stripe Inc., and Latin American payments company Mercado Pago. They join PayPal Holdings Inc. which announced its exit from the group on Oct. 4, as global regulators continue to air concerns about the project.
