The Facebook crypto project, Libra, has lost another one of its backers with Vodafone announcing its decision to quit the Libra Association. Meanwhile, central banks from major economies are forming a coalition to explore state-issued digital currencies in response to private cryptos.
Why Facebook Crypto Continues to Lose Partners
According to BBC, global telecoms giant Vodafone is the latest partner to quit the Facebook Libra Association. Commenting on its decision to leave the project, a spokesperson for the company revealed:
We have said from the outset that Vodafone’s desire is to make a genuine contribution to extending financial inclusion. We remain fully committed to that goal and feel we can make the most contribution by focusing our efforts on [mobile payments platform] M-Pesa.
Vodafone’s stated reason for leaving the…
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