Reply to post:

From Libra to leave-ya: eBay, Visa, Stripe, PayPal, others flee Facebook's crypto-coin

Wellyboot Silver badge

It's the power of competition, with thousands of financial institutions across the planet any one that gets a reputation for abusing their position or breaking rules will see the client base step over to another provider or be forced to shutdown.

Does anyone think FB wants to work in that environment, or would they eliminate the competition (and partners) by doing all this for free (or even at a loss) via ad flinging.

VISA/Mastercard know that their advantage lies in their global acceptance, if they help FB to become a global financial system providing the currency what do they do when virtual FaceCard appears (ignoring all the various national financial rules).

It's in nobody but FBs interest for this currency to happen and the overnight news of the others jumping ship seems to confirm this.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

SUBSCRIBE TO OUR WEEKLY TECH NEWSLETTER

Biting the hand that feeds IT © 1998–2020