British Telecom giant Vodafone is the latest member to leave Libra Association while becoming the eighth company to do so.
On Jan. 21 2020 a spokesperson from Vodafone confirmed about the departure while adding to the lengthy list of departure.
The representative said:
“Vodafone Group has decided to withdraw from the Libra Association. We have said from the outset that Vodafone’s desire is to make a genuine contribution to extending financial inclusion. We remain fully committed to that goal and feel that we can make the most contribution by focusing our efforts on M-Pesa. We will continue to monitor the development of the Libra Association and do not rule out the possibility of future co-operation.”
M-Pesa is an African mobile payment option developed by Safaricom, a Kenya-based outfit Vodafone collaborates with. On Jan. 21 a statement was received from Libra Association regarding the departure of the telecom giant.
Dante Disparte, head of policy and communications for the Libra Association, said:
“We can confirm that Vodafone is no longer a member of the Libra Association, Although the makeup of the Association members may change over time, the design of Libra’s governance and technology ensures the Libra payment system will remain resilient,” Disparte added. “The Association is continuing the work to achieve a safe, transparent, and consumer-friendly implementation of the Libra payment system.”