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Matstercard CEO Divulges Why The Company Left Libra

Ramsey Baker

Summary: Ajay Banga, Mastercard’s Chief Executive Officer, explained the reasons why Mastercard jumped ship on Libra in a Feb. 3 interview with the Financial Times. Mastercard was one of the founding members of the Libra association, along with Visa, PayPal and Stripe. All four of these company left Libra in Oct. 2019 without any explanation. However, ...

Ajay Banga, Mastercard’s Chief Executive Officer, explained the reasons why Mastercard jumped ship on Libra in a Feb. 3 interview with the Financial Times.

Mastercard was one of the founding members of the Libra association, along with Visa, PayPal and Stripe. All four of these company left Libra in Oct. 2019 without any explanation. However, according to Banga, Mastercard and possibly others left due to fear of stepping on regulators toes, concerns with Libra’s business model and inconsistencies with how Libra presented themselves.

By Ramsey Baker

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