While Facebook’s Libra Association is seeing an exodus of its initial partners, e-commerce giant Shopify has become its latest member.
Shopify said on its official blog, that it has joined the company at a time when major companies like Visa, Mastercard, PayPal, and eBay ended their ties with Facebook’s ambitious crypto project.
Some of the tech giants that have exited the Libra Association are Visa, Mastercard, eBay and Vodafone among others.
“Our mission is to make commerce better for everyone and to do that, 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 stated.
“That’s why we decided to become a member of the Libra Association.”
Though Facebook first aimed to launch Libra in mid-2020, the regulatory hurdles have raised serious questions on the expected launch date and many are doubting if Facebook’s libra will launch this year.
“Our mission has always been to support the entrepreneurial journey of the more than one million merchants on our platform. That means advocating for transparent fees and easy access to capital, and ensuring the security and privacy of our merchants’ customer data,” Shopify added. “We want to create an infrastructure that empowers more entrepreneurs around the world.”
