Several large companies have announced their departure, including Visa and Mastercard, a week after PayPal exited

Nearly every payment firm that initially agreed to join Facebook’s cryptocurrency Libra has backed out, in a potentially fatal blow to the social network’s plan for a worldwide digital currency.

Visa and Mastercard said on Friday they would no longer participate in the Libra Association and Latin American payment system Mercado Pago announced it would back out as well. Several other large companies have announced their departures from Libra.

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