Britain’s Vodafone Group PLC has left the entity that manages the Facebook Inc led effort to launch Libra, a global digital currency, Libra Association said.
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The association has seen an exodus of its backers including financial companies Paypal Holdings Inc and Mastercard Inc amid regulatory scrutiny.
Facebook announced in June last year a plan to launch the digital currency in partnership with other members of the association, but the project quickly ran into trouble with sceptical regulators around the world.
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“We will continue to monitor the development of the Libra Association and do not rule out the possibility of future co-operation,” a Vodafone spokesman said in a statement.
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