Facebook has said that it hopes to expand the organization's membership to more than 100 organizations by the time the Libra payment network launches in 2020.
On Monday, the Libra Association claimed that 1,500 organizations have expressed interest in joining. The group claims that around 180 of those companies meet the Libra Association's criteria for membership. These criteria vary depending on the type of organization, but factors include a company's market value (for businesses), the amount of financial deposits (for financial institutions), and annual budget (for non-profits).
The Libra Association is on the prowl for new members after some of its most prominent supporters backed out ahead of Monday's meeting. The defecting companies were Visa, Mastercard, Paypal, Stripe, eBay, and Mercado Pago. Booking Holdings—the parent company of Priceline, Kayak, OpenTable, and other online reservation services, backed out of the Libra Association just before Monday's meeting.
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