November 30, 2020

Shopify to Join Facebook-Led Libra Currency Group


Canadian e-commerce company Shopify said on Friday it would join Libra Association, a group that manages Facebook led efforts to launch a global digital currency, Libra.

“We will work collectively to build a payment network that makes money easier to access and supports merchants and consumers everywhere,” Shopify said in a statement.

Several companies including Vodafone Group, Paypal Holdings and Mastercard have exited the association in recent months.

Facebook announced in June last year its plan to launch Libra in partnership with other members of the association, but the project soon ran into trouble with sceptical regulators around the world.

Libra Association did not immediately respond to Reuters request for comment.

© Thomson Reuters 2020

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