VISA CEO says involvement with Libra is not yet final

VISA Libra project

According to a recent comment from the CEO and board chairman of VISA, Alfred F. Kelly Jr. the company has not yet signed a binding agreement with Facebook in its involvement with the Libra project.

During an earnings call, Kelly was asked about VISA’s final decision about Libra, to which he responded that the decision is not yet final. Even though the company had shown interest, there’s still much to discuss and consider.

This was definitely not an advantageous comment for Facebook as its primary argument against centralization was the power-sharing between the 28 companies involved in the project.

One important sentence that Kelly added at the end though was that, since VISA has already expressed interest in the Libra project, it’s much more likely that they will follow through with the agreement rather than leave it pre-emptively without any notice.

Kelly also added that there will be a whole slew of factors that could play major roles in the company’s final decision to join Libra officially, one of which will be the unilateral compliance with several regulatory frameworks and the management of all legal aspects of the project.

Nobody is accusing Kelly of playing down VISA’s involvement in the project after it got so much criticism, but it definitely sounded like it. There are no comments from other project members yet, but it’s likely that similar comments will flare up quite soon.