Shopify joins Facebook’s Libra Association
E-commerce big hitter Shopify has become a member of Facebook’s Libra Association.
It will stump up at least $10 million and operate a node that processes transactions for Facebook’s stablecoin project.
“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 said in an online post.
“We want to create an infrastructure that empowers more entrepreneurs around the world. We’re excited to be part of the Libra Association and look forward to how the project may improve commerce everywhere.”
The Libra Foundation said in a Facebook post: “Shopify will be an incredible partner in making widespread economic participation a reality.”
It’s a major boost for Facebook, which has lost such partners as eBay, Visa, Mastercard and Stripe in the face of international regulators’ concerns over Libra.
