Shopify joins the Libra Association

Shopify has just become the newest member of the Libra Association. This takes place about a month after Vodafone withdrew from the organization.

Shopify is joining forces with Libra

Shopify has said it intends to “work together” to build a payment network that works “everywhere”.

Libra was presented by Facebook last summer as a global project from the payment market, whose main tool is to be a stablcoin supported by a basket of fiduciary currencies (including USD). The Libra Association is a kind of a system management board. It was established in October. It is supposed to ensure decentralization of the whole, although this model does not inspire trust in the cryptographic environment. Facebook itself is not in the organization, although there is a Calibra subsidiary, which is responsible for the LibraCoina portfolio.

Other members of the Association are: Coinbase, Xapo, Anchorage, Bison Trails, Creative Destruction Lab, Andreessen Horowitz, Thrive Capital, Ribbit Capital, Union Square Ventures, Illiad, Farfetch, Uber, Lyft, Kiva, Mercy Corps, Women’s World Banking, Spotify and PayU.

The former members, on the other hand: Visa, Mastercard, PayPal, Booking Holdings, eBay, Stripe and Mercado Pago. These companies withdrew even before the Board of Directors was formed. Vodafone remained a member longer, but resigned in January.

“Our mission has always been to support the entrepreneurship of over a million salesmen on our platform. This means promoting transparent fees and easy access to capital and ensuring the security and privacy of our customers’ data. We want to create an infrastructure that enables more entrepreneurs around the world to do all this”.

– we read on the Shopify blog now.

Libra is “proud”

In a statement, the Head of Policy and Communication of the Libra Association, Dante Disparte, said that the organization was “proud” to have a new member joining it.

“As an international trading platform with over a million companies in about 175 countries, Shopify Inc. brings a wealth of knowledge and experience to the Libra project. Shopify joins an active group of Libra Association members whose goal is to ensure security, transparency and consumer-friendly implementation of a global payment system that breaks financial barriers for billions of people.

– he said.

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