In the past couple of weeks Facebook lost plenty famous companies in their crypto currency project. But now one of the biggest e-Commerce giants joined the Libra Association and is absolutely convinced about the huge potential.
The Libra Association, the collective of large companies that support the Facebook crypto-currency project Libra, has now registered a new addition after the exit of some companies. On Friday it was announced that Shopify, the e-commerce platform, will become part of the Libra Association.
“As a multinational commerce platform with over one million businesses in approximately 175 countries, Shopify, Inc., brings a wealth of knowledge and expertise to the Libra project. Shopify joins an active group of Libra Association members committed to achieving a safe, transparent, and consumer-friendly implementation of a global payment system that breaks down financial barriers for billions of people,”Dante Disparte – Head of Policy and Communications Libra Association
Currently you can find the following companies as members of the Libra Association:
- Bison Trails
- Creative Destruction Lab
- Andreessen Horowitz
- Thrive Capital
- Ribbit Capital
- Union Square Ventures
- Mercy Corps
- Women’s World Banking
Shopify will be a major contributor to the project, as its membership brings in at least $10 million and the operation of a node that processes transactions for Facebook’s Stablecoin.
Check out the official press release by Shopify: https://news.shopify.com/shopify-joins-libra-association