The twenty one remaining members of the Libra association this week have finally come together to sign the project’s charter. Following a number of high-profile departures from the likes of PayPal, Mastercard and eBay, the remaining bodies have now officially assembled.
Libra maintain that over 1000 companies are waiting in the wings to join the association, with a 2/3 vote of approval needed by existing board members. It would not come as a surprise if Facebook prioritised formal launch and regulatory clarity before adding any further members to the association.
Launch was initially pencilled in for “early-2020”. With no official date ever set in stone, this now looks like the latter end of 2020, at the earliest. With huge opposition from significant political figures, especially in Europe, Libra has had anything but a smooth start.
What is for certain, is that Facebook will have to be much more transparent on both regulatory and technical developments and standing well ahead of any official launch date.