In October, the world's biggest economies warned cryptocurrencies such as Libra pose a risk to the global financial system. Vodafone has become the latest company to leave Facebook's digital currency project, Libra.
"Vodafone Group has decided to withdraw from the Libra Association," a Vodafone spokesperson said. "We have said from the outset that Vodafone's desire is to make a genuine contribution to extending financial inclusion."
"We remain fully committed to that goal and feel we can make the most contribution by focusing our efforts on [mobile payments platform] M-Pesa."
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Dante Disparte, head of policy and communications for the Libra Association, said: "Although the makeup of the Association members may change over time, the design of Libra's governance and technology ensures the Libra payment system will remain resilient".
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