Facebook gets with Shopify new Partner for Libra Assocation

The crypto project of Facebook, Libra, despite the return of attention shocks will continue to draw on, including a shrinking pool of supporters and a growing number of concerned regulatory authorities.

However, now that JP Morgan sees the potential for the crypto-currency of the social network and the E-Commerce giant Shopify, the Libra-Association connects, could lead to new opportunities. Nevertheless, the guarantee to the governments that Libra, your monetary authority does not undermine, and the Conviction of the users of their Benefits is a key challenge.

The long list of supporters of Libra has been reduced in the last few months, as major players such as Visa, Mastercard, Ebay and Paypal have left the Libra Association, after it became clear that the project faces major regulatory hurdles. The Online payment processor Stripe, the travel website Booking Holdings and the South American Online sales platform, Mercado Pago are also among the candidates who have left the sinking ship.

Vodafone withdrew last month from the project and is the eighth company that the project leaves. The telecommunications giant, which is in two dozen countries and customers in many other countries, has recently launched discussions in social networks and media speculation, which some people described as an indication of his future plans. On Friday Vodafone Facebook has started advertising in the German language, the Bitcoin with the following message show (freely translated):

It will soon give Bitcoins instead of pocket money? What to give grandma, you, if, in the future, everyone with a Smartphone is going to pay?

Vodafone left Libra to focus on M-Pesa, its own digital payment platform. M-Pesa was founded in 2007 by its Kenyan Partner, Safaricom, and has established itself as the leading mobile money service in Africa. He now has 37 million active users in seven countries in the Region, carried out by 2019 more than 11 billion transactions. So far, it does not support Bitcoin, however, is still.

Swimming against the current: Shopify enters Libtra

But not all Libra to leave. In fact, the majority of the founding members is still on Board. The recently released updated list contains the names of companies from various sectors, including the Facebook subsidiary, Calibra, the crypto companies Coinbase, Anchorage, Bison Trails, Xapo Holdings, but also Uber, Lyft, Spotify, Farfetch, Payu, Iliad, Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures, Creative Destruction Lab, Kiva, and even NGOs such as Mercy Corps and Women’s World Banking.

Shopify, a canadian E-Commerce platform, is the latest Suppertn the Libra Association. The company offers services and solutions for more than a Million small retailers and Online retailers, announced on 21. February, announced his decision to the member, and promised to invest $ 10 million in the project.

We spend a lot of time thinking about how we can trade in Parts of the world, in which money and banking is much better could be, can improve

Shopify, said in a blog post and added:

As a member of the Libra Association, we will work together, a payment network that facilitates the access to money and dealers and consumers everywhere.