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Visa Still Interested In the Development Of Libra. Is It a Ray Of Hope For a Return To Cooperation?

3 min reading

Even though Visa withdrew from the Libra Association some time ago, the company's CEO admitted that he was still discussing the project with a social media giant. This, in turn, shows there is a possibility that the cooperation will re-established in the future.

On the 24th of October, an interview with Alfred F. Kelly (the CEO of Visa) was posted on the Varol Economico news portal. The man admitted there that the company still maintains close relations with Facebook. In his opinion, it is cryptocurrencies that are able to provide users with greater security. He also added that the company is open to new solutions, while noting that Visa is going to be involved in all areas related to making payments in order to achieve a satisfactory level.


Visa about Libra

Alfred F. Kelly pointed out, however, that full implementation of this project needs much more time. By saying that, he took into account the fact that this is an initiative which must meet regulatory requirements before entering into force. He also mentioned that all members of the Libra Association are in charge of this project, not Facebook itself which initiated it.

The giant of payments cares above all about making money transfers available to all people, including those "unbanked". The interview highlighted that Visa had numerous discussions on this subject with Facebook in order to jointly develop a system that would allow to solve this problem.

"In the conversations we had with the Facebook people, we tried to create something that could bring these people into the system faster."  

- adds Alfred F. Kelly.

Libra's criticism from congressmen

Yesterday an interview with Mark Zuckerbnerg (Facebook CEO) before the US Congress took place. Although it was supposed to mainly concern the social media giant, discussions repeatedly included the Libra project. Many congressmen were critical of Facebook's intentions and although Zuckerberg fought off all attacks, many officials still remain negative about this project.

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