Libra Association has revealed the participation of 1500 entities that have shown their interest in the Libra project.
In ten days, the Libra Association will have its 1st Council meeting, so they have disclosed the fact that there are 1500 entities that are excited to join the Libra.
We look forward to the first Libra Council meeting in 10 days and will be sharing updates following that, including details of the 1,500 entities that have indicated enthusiastic interest to participate.
— Libra (@Libra_) October 4, 2019
The Libra association has announced this fact after the PayPal payment giant has claimed to leave the Libra project.
However, PayPal has said that the company is looking forward to supporting the Libra network. It also said that we would like to continue our work with the Libra association in the future.
As PayPal stated:
Facebook has been a longstanding and valued strategic partner to PayPal, and we will continue to partner with and support Facebook in various capacities.
On this occasion when the payment giant PayPal had withdrawn from the Libra project, the Libra association says in a tweet:
We recognize that change is hard, and that each organization that started this journey will have to make its own assessment of risks and rewards of being committed to seeing through the change that Libra promises.
In the start, Facebook’s Libra had got the support of 28 members and in this list, the US payment giant was also listed. But the beginning of the Libra project was not good due to its regulatory issues.
Libra Association further says that it is not easy to develop a high-security payment network like Libra project and it is not a destination but a journey.
As the Libra Association officially states:
Building a modern, low-friction, high-security payment network that can empower billions of financially underserved people is a journey, not a destination. This journey to build a generational payment network like the Libra project is not an easy path.
The Wall Street Journal report says that apart from PayPal, two other players of Libra were also considering again their partnership with the Libra Association.