Shopify Joins Nonprofit Behind Facebook's Libra Currency

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Shopify Joins Nonprofit Behind Facebook's Libra Currency KentBrockman ## Reporter 02/21/20 (Fri) 23:45:02 No.253200

Online commerce platform Shopify on Friday said it has joined the nonprofit association behind Facebook's planned Libra cryptocurrency.

Canada-based Shopify signed on as a member of the Libra Association after a string of companies dropped out in the face of criticism by regulators worried the borderless digital money is a threat to national sovereignty.

"We spend a lot of our time thinking about how to make commerce better in parts of the world where money and banking could be far better," Shopify said in a blog post.

"We're excited to be part of the Libra Association and look forward to how the project may improve commerce everywhere."

Shopify planned to work with the association to build a payment network the makes money easier to access by businesses and consumers no matter their locations, according to the post.

Libra, a high-profile project of social network giant Facebook, is tentatively scheduled to launch this year but has been battered by severe criticism from some of the world's most influential financial authorities.

Libra is to be will be managed by a Geneva-based independent association linking several companies and non-profit groups.

https://www.ibtimes.com/shopify-joins-nonprofit-behind-facebooks-libra-currency-2926683

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