Canadian e-Commerce giant Shopify to join Libra Association

Canadian e-commerce company Shopify Inc revealed on Friday that it would join Facebook's Libra Association and help develop a safe and accessible payment network.

Canada-based e-commerce giant Shopify announced that it would Libra Association and help create a safe and accessible payment network for people around the globe. Shopify is an e-commerce platform like eBay India. In recent months several organizations, including Mastercard, Visa, eBay, and Vodafone, have exited Libra Association. 

 

“Our mission is to make commerce better for everyone.”

Shopify, in its statement, said that they are joining the Libra Association because their mission is to make commerce better for everyone around the globe. The company revealed that it is not the first step they are taking to solve the problem, but it is not the only step they will take. Shopify further stated that they would work collectively to build a payment network that makes money easier to access and supports merchants and consumers everywhere. 

 

Facebook’s Libra is scheduled to launch this year.

Social media giant Facebook unveiled its stablecoin project last year in June and set the launch date sometime in 2020. Currently, it’s not clear yet whether Libra will see a launch this year or not because of regulatory uncertainty. Since Facebook announced its crypto project, it has attracted regulatory scrutiny from all over the world. Several countries have denied the launch of Libra, saying it threatens the financial sovereignty of the country. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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