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The Libra Association's remaining stakeholders — under very public pressure to abandon ship — will potentially find strength in numbers at its meeting in Switzerland.

As regulatory pushback against Facebook's Libra cryptocurrency has accelerated, keeping the project together has become a major challenge, with Visa, Mastercard, Visa, eBay and Stripe joining PayPal in leaving the project.

Two new surveys have found that most consumers would prefer to stash their cash in traditional banks. But there's one group of savers who would be very comfortable opening accounts with tech giants if given the opportunity.

The social media giant's CEO will likely encounter pushback from members of the Financial Services Committee about the company's plans to launch its own cryptocurrency.

The payments company’s departure from the association leading Facebook’s Libra cryptocurrency plan is the clearest sign that skeptical policymakers are the plan's biggest obstacle.

Any entity questioning Libra runs up against the longstanding legal precedent set by private label gift and GPR, and myriad other prepaid account offerings, says payments consultant and researcher Richard Crone.

The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances.

The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years."

Facebook's Libra cryptocurrency project has lost its first major ally. PayPal — where the head of Facebook's Libra project once served as president — has cut its ties. As a founding member, PayPal was expected to drive the payment-specific part of the cryptocurrency initiative.

Payoneer found its niche providing technology for Amazon, Google and Facebook to deliver mass payouts to independent contractors, but the company has added options for small U.S. businesses to send payments to vendors and suppliers globally.