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WSJ: Visa, Mastercard are reconsidering support for Facebook Libra

The cryptocurrency scheme could be in trouble if it loses major partners.
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josefkubes via Getty Images

It has been a few months since Facebook officially announced its "Libra" cryptocurrency push with support from some big names including Visa and Mastercard. Since then we've heard little about it other than increasing scrutiny from regulators, bankers and politicians around the world, while those partners have mostly remained quiet.

The Wall Street Journal reports today that executives from unnamed partner companies have refused to support Libra publicly, despite requests from Facebook for them to do so. It claims, based on anonymous sources, that Visa, Mastercard and others are now reconsidering their involvement altogether. This all comes out as members of the Libra Association are preparing to meet in Washington D.C. on Thursday, so we'll likely find out soon if they pull together or split apart.

Update (2:55 AM ET): Facebook's David Marcus responded to the article on Twitter, saying "For Libra to succeed it needs committed members, and while I have no knowledge of specific organizations plans to not step up, commitment to the mission is more important than anything else."

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