Yesterday we wrote about several high-profile partners who decided to leave Facebook’s cryptocurrency – Libra. This was on the eve of a significant event for the crypto as the formation of a Libra Council was scheduled to take to place in Geneva.
That event went on as planned despite the late departures, with Booking Holding (Booking.com, Kayak and Priceline) opting to leave too, and now there are 21 members that are currently a part of the Libra Council.
At the event, along with confirming their respective commitments to the crypto, the companies assembled also signed a Council charter, as well as appointed a board of directors and an executive team.
As such it looks like the logistical elements to get Libra up and running appear to be going smoothly, this despite the continued scrutiny the cryptocurrency faces from the likes of the US Senate and European Union regarding the effect this platform could have on traditional banking systems.
As for the 21 companies, they are currently as follows:
Anchorage, Mercy Corps, Andreessen Horowitz, PayU, Bison Trails Co., Ribbit Capital., Breakthrough Initiatives L.P., Spotify AB, Calibra, Inc., Thrive Capital, Coinbase Inc., Uber Technologies Inc., Creative Destruction Lab, Union Square Ventures, Farfetch UK Limited, Vodafone, Iliad, Women’s World Banking, Kiva Microfunds, Xapo Holdings Limited, Lyft Inc.
Speaking to Reuters about the losses of companies like Visa, PayPal and Mastercard, Libra’s policy head Dante Disparte is still confident that its existing partners can fill those gaps created by recent departures. Adding that there are more than 180 different companies that currently meet the requirements to join the Libra Council.
Now the next step for Libra is to tackle all of the regulatory concerns that have been raised regarding the platform ever since it was first announced. This needs to happen especially if the crypto is going to withstand further scrutiny as it plans to launch the platform sometime soon.
When that will happen though, remains to be seen, with a launch date still in the offing.