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The Vodafone Group is leaving Facebook led Scale mint group

A man looks at his mobile phone next to a Vodafone logo at the Mobile World Congress in Barcelona, Spain, February 28, 2018. REUTERS/Sergio Perez

(Reuters) – the uk’s Vodafone Group PLC (VOD.(L) it is the entity that manages the Facebook Inc. (FB.O led the effort to launch the Scale of a global digital currency, the balance of the Association, said on Tuesday.

The association has seen an exodus of finance, including finance companies, Paypal Holdings, Inc. (PYPL.R) and Mastercard Inc (MA.(N) centre of pressure.

Facebook announced in June of last year, a plan for the launch of the digital currency, in co-operation with the other members of the association, but the project quickly ran into trouble with the skeptic’s regulatory agencies around the world.

Vodafone did not immediately respond to a request for comment.

“Although the make-up of the members of the Society will be able to change it at the time, the design of the Libra’s administration, and technology, the Scale system continues to be resilient,” said Dante Disparte, head of policy and communication for the Scale bar Association.

Reporting by Neha Malara in Bengaluru; Editing by Arun Koyyur

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