Facebook’s Libra currency abandoned by major financial companies

By Pete Schroeder, Shanti S Nair and Katie Paul (Reuters) - Facebook Inc's ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa Inc quit the group behind the project. The two companies announced they would leave the association Friday afternoon, as did EBay Inc , Stripe Inc. and Latin American payments company Mercado Pago.

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