The Visa CEO Alfred F. Kelly has confirmed that the company might not be finished with Facebook’s Libra despite pulling out of the project earlier in the month.
Kelly stated that Visa still maintains a close relationship with Facebook and believes that digital currencies provide safer payments to more people and places. Kelly said:
“As a curious and open company “” and given the leadership we have in the payments ecosystem “” we want to engage in everything in the payment space until we reach a point where we believe our engagement is no longer positive.”
Kelly commented further by saying that the Libra project needs more time for full implementation since it is a disruptive initiative.
On the question of one billion people being unbanked he said:
“In the conversations we had with the Facebook people, we tried to create something that could bring these people into the system faster.”
He then revealed that Libra is not centralized and that although the proposal “was developed by Facebook, all members of the Libra Association have the same decision-making power and control of the project.”
On Wednesday Mark Zuckerberg testified to the Senate and was asked some tough questions. He conducted himself admirably and continued to state the Libra Association will not launch Libra till all the relevant US regulators are satisfied.
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