Mastercard, Visa, EBay, Others Exit Facebook’s Libra Coin Project

Facebook Inc's efforts to establish a global digital currency called Libra suffered major setbacks on Friday, as EBay Inc, Stripe Inc, Mastercard and Visa Inc all said they were leaving a group of companies aiding the project.

The companies join PayPal Holdings Inc which exited the Libra Association just a week ago, as global regulators continue to air concerns about the project.

"Visa has decided not to join the Libra Association at this time," the company said in a statement. "We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the Association's ability to fully satisfy all requisite regulatory expectations."