Booking.com owner becomes latest to abandon Facebook Libra
Booking Holdings, the company behind websites including Booking.com, has become the latest firm to quit Facebook Libra, the social media giant’s embattled cryptocurrency project.
Libra confirmed that Booking – which also operates sites including Opentable and Kayak – is withdrawing from the Libra Association, the stablecoin’s Swiss-based independent governing body.
Read more: Facebook cryptocurrency Libra dealt fresh regulatory blow by G7
The Libra Association reportedly had its first meeting in Geneva today, marking the deadline for members to cough up their $10m founders’ fee, but the project has been hemorrhaging support recently and has faced intense scrutiny from authorities across the world.
Major payment companies Mastercard, Visa, and Ebay all abandoned the project on Friday, alongside fintech startup Stripe and payment firm Mercado Pago. Paypal left the Association earlier this month.
The departures leaves Netherlands-based Pay U as the only payment firm still backing the project.
Dante Disparte, the Libra Association’s head of policy and communications, said the group appreciated Booking’s support for Libra’s “goals and mission”.
City PM has contacted Booking Holdings for comment.
Main image credit: Getty