The Wall Street Journal reported earlier that Mastercard, Visa, and other key financial firms are reconsidering business partnerships with Facebook's cryptocurrency Libra.
However, Libra's financial supporters rejected Facebook’s call to publicly support its new cryptocurrency, avoiding regulatory scrutiny.
Moreover, PayPal and Stripe are also uncertain about formally engaging in Financial transactions with Libra.
“I can tell you that Facebook is very calmly, and confidently working through the legitimate concerns that Libra has raised by bringing conversations about the value of digital currencies to the forefront”, Head of Libra David Marcus said.
Facebook's efforts to drag its cryptocurrency into the mainstream has been met with global political skepticism, especially with France and Germany vowing to block Libra from executing any operations in Europe.
The WSJ reported that Libra Association's policy executives, including 20 key financial firms, were called to a meeting in Washington this Thursday.
Facebook could postpone the launch of Libra to work on regulatory issues that have been challenged globally, Reuters reported last week.
The US tech giant announced intentions to launch its new currency, in partnership with other members of the Libra Association, by June 2020.
Marcus said in a tweet that he wasn’t aware of any specific companies’ plans to “not step up”.
The entrepreneur is the former president of PayPal and is the current Vice President of Messaging Products at Facebook.
Follow the latest news on Google News
