Mastercard (NYSE:MA) Chief Executive Officer Ajay Banga explained his concerns about Libra in a Feb. 3 interview with the Financial Times. He bashed Libra for its lack of transparency while arguing that national payment systems are “really stupid.”
Mastercard was one of the founding members of the Libra association, along with Visa (NYSE:V), PayPal and Stripe. All four left in Oct. 2019 with no proper explanation, though rumors indicated fear of running afoul of regulators.
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