There are still a lot of mysteries surrounding the Libra Association. Despite numerous partners bailing on the project, Shopify is making the opposite move.
Facebook still thinks it can issue its Libra digital currency.
The Libra Association Begins to Grow Again
To do so, ample partners will need to pledge support.
Nearly a dozen of the initial backers have already pulled out of the Libra Association.
This creates room for other players to get in on the action.
The latest company to show a keen interest in this project is Shopify.
Most people know Shopify as an online shopping and e-commerce solution.
For the company, this decision appears to make a lot of sense.
Shopify wants to achieve systems with transparent fees and easy access to capital.
Given Facebook’s colorful history, one has to wonder if those values will be reflected in the digital currency project itself.
This news comes at a crucial time for the Libra Association.
About a month ago, Vodafone was the latest partner to back out of the project due to a shift in focus.
Vodafone is looking to build out its M-Pesa mobile payments platform.
How and when this new stablecoin will launch exactly, remains unclear.
Facebook has received a lot of regulatory backlash over this vision.