Libra’s Partners Seem to be Just as Wary as Regulators

The New York Times reports that 7 of Libra’s partners are quite wary of the new project; according to the report these partners signed non-binding agreements with the social media giant; the partners are not required to use or promote the digital currency and they could easily back out of the agreements; no money has changed hands yet and these partners will want to see some real progress before agreeing to fund the project; a few reasons behind the unease include regulatory uncertainty, Facebook’s issue with privacy and Facebook’s past treatment of corporate partners; worldwide regulators have also shown a lot of criticism towards the project saying they will be scrutinizing the efforts very closely. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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