https://www.wired.com/story/facebook-losing-cover-libra-more-members-flee/

Then there were 22. Last week, PayPal became the first to defect from the 28-member Libra Association, declining to participate in Facebook’s vision for global payments—a vision it helped seed. Now, Visa, Mastercard, Stripe, eBay, and Mercado Pago have followed it out the door. The hurried exits come as the association prepares for its first meeting Monday in Geneva, where members had planned to formalize their participation in the cryptocurrency project.

When Facebook revealed Libra in June, the involvement of payments providers was seen as a coup—a pairing of the disruptor and the disruptees. Libra’s crypto network is meant to circumvent the reigning payments infrastructure, offering a solution to slow transactions and hefty fees, especially across borders. Fees translate to profits for companies like Visa and PayPal.