Libra project is a lonely place so far - Visa CEO
- Visa's Alfred F. Kelly said that no company had joined the project yet.
- The participation in the project will depend on various factors.
According to the chairman and CEO of Visa Alfred F. Kelly, no companies have officially joined Libra project. He explained that the relationship between Visa and Libra was still at the initial stage as the company was accessing the project and its ability to deliver on its promises.
“We have signed a nonbinding letter of intent to join Libra. We're one of – I think it's 27 companies that have expressed that interest. So no one has yet officially joined,” he explained during Q3 2019 earnings call on July 23.
Kelly admitted that the discussions had moved to the final stage, however, the final decision would hinge on several factors, where the ability of Libra Association to deal with all regulatory concerns would play a crutial role.
“It's really, really early days and there's just a tremendous amount to be finalized,” Kelly added.
While speaking in the Senate, the head of Calibra David Marcus said that the participants of the Association were on the stage of approving the Charter of the Association.
It is worth noting, that the company that wants to become a partner of Libra and operate a node should invest $10 million in the Association. No company has done that as of yet.
Author
Tanya Abrosimova
Independent Analyst
