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Facebook-led Libra Association secures 21 signatures at inaugural charter meeting

Celia Wan

Twenty-one organizations have formally joined Libra after Monday's Association meeting. The commitments follow a string of significant departures, as Visa, PayPal, MasterCard, Stripe, eBay and Booking departed from the Facebook-led stablecoin project.

During a meeting in Geneva, the twenty-one organizations formally signed the Libra Association charter and appointed a board of directors. The initial board members are Calibra cofounder David Marcus, Andreessen Horowitz general partner Katie Haun, Xapo CEO Wences Cesares, PayU general counsel Patrick Ellis, and Kiva chief strategy officer Matthew Davie. 

Meanwhile, PayPal veterans Bertrand Perez, Dante Disaprte, and Kurt Hemecker will comprise the Association's executive team. 

Despite the high profile exits from the Libra Association that preceded the meeting, the Association claims that more than 1,500 organizations have expressed interest in joining the project.