Visa CEO: No member has officially joined Facebook Libra project yet

Alfred F. Kelly, chairman and CEO of Visa (one of the members of Facebook’s Libra cryptocurrency project), has said that no company has officially joined the project yet.

Kelly made the comments in a Q3 2019 earnings call on Tuesday, saying: “We have signed a nonbinding letter of intent to join Libra. We're one of – I think it's 27 companies that have expressed that interest. So no one has yet officially joined.”

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

The CEO further said that Visa is in discussions and its final decision to join the project will be determined by "a number of factors," including the ability of the Libra Association to address all regulatory concerns.

“It's really, really early days and there's just a tremendous amount to be finalized,” Kelly said.

Facebook, on its part, has reportedly hired two more lobbying firms - the Sternhell Group and Cypress Group - to help pitch its upcoming Libra cryptocurrency to regulators in Washington.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

More by Yogita Khatri