Shopify announced on 21st of February that it will join the Facebook launched cryptocurrency Libra. Following a string of regulatory concerns last October, eBay, Visa, Stripe and other partners backed out of partnerships with Facebook’s digital currency collection.
Shopify said that, as a component of the Libra Association, it will work with Facebook and other project partners to “assemble a payment network that brings in money easier to access, and supports merchants and shoppers all over the world”.
It has been announced that Shopify will be contributing at least $10 million and operating a node that
Libra is a permissioned blockchain digital currency proposed by the American Social network company Facebook which was launched in 2020.
The project, money, and transactions are to be overseen and cryptographically entrusted to the Libra Association, a membership organization of companies from payment, technology, media transmission, online marketplace and investments, and profits.
The task, money, and exchanges are to be overseen and cryptographically dependent on the Libra Association, a participation association of organizations from installment, innovation, media transmission, online commercial center, and investment and benefits.