Libra, the highly-scrutinized planned cryptocurrency led by Facebook (NASDAQ:FB), officially launched in Geneva yesterday despite several high-profile defections from the project last week.
Libra Launches With 21 Chartered Members
The Libra Association, the non-profit governing body of the digital currency, officially signed on 21 charter members at a meeting at its Swiss headquarters. The association was originally made up of 27 members; however, the high level of regulatory scrutiny leveled at the project led to several prominent defections in recent weeks. These include Visa (NYSE:V), PayPal (NASDAQ:PYPL), and Mastercard (NYSE:MA), which all jumped ship last week as it emerged that Mark Zuckerberg would defend his plans to launch Libra before a Congressional committee.