Alfred F. Kelly Jr., the chief executive officer of Visa, stated that no firms have formally joined Libra. At this stage, the 20-some firms involved with the foundation have reportedly solely declared interest via a nonbinding letter of intent.
According to an apparent transcript of a Q3 2019 earnings call for Visa dated July 23, Kelly said:
"We have signed a nonbinding letter of intent to join Libra. We're one in all – I believe its 27 firms that have expressed that interest. Therefore nobody has yet formally joined."
According to the transcript, Kelly was reacting to a request from Bryan C. Keane — an examiner at Deutsche Bank Securities. Keane expressed there was "some disarray inside the market" and asked whether Libra would be "a vital accomplice for Visa or potential troublesome danger."
Regarding Visa’s supposed involvement, Kelly stated that the corporate thinks Libra would benefit the company, given that it will meet regulatory requirements:
“We're in discussions and our final call to join will be determined by a variety of things, as well as clearly the ability of the association to satisfy all the requisite regulative needs. So, Bryan, in my estimation, it's really, really early days and there's simply an incredible quantity to be finalized. However clearly, only if we've expressed interest, we truly believe we may well be additive and useful in the association.”
As antecedently reported by Top Market Group, Libra has been criticized for its choice to entrust its governance to a syndicate of company entities. On June 14, cryptographer Sarah Jamie Lewis wrote:
“Can't expect a cryptocurrency with the ethics of Uber, the censorship resistance of Paypal, and also the centralization of Visa, all tied along below the established privacy of Facebook.”
Congresswoman Alexandria Ocasio-Cortez is additionally known as Libra a “currency controlled by an undemocratically-selected coalition of largely huge corporations” and challenged Calibra head David Marcus’ views on the sovereign currency in one in all the recent congressional hearings on Libra.
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