Shopify Joins Facebook-Backed Libra Association Cryptocurrency Collective

The initiative is weathering the losses of Bookings Holdings, eBay, Mastercard, Mercado Pago, PayPal, Stripe, Visa, Vodafone

Build your own seamless purchase experience at Commerceweek, February 28-29. Gain strategies for consumer retention with immersive touchpoints, AI innovation and storytelling. Register now at 35% off.

Facebook-backed cryptocurrency collective the Libra Association has lost quite a few members since being formed last June, but it gained a prominent one in the ecommerce space Friday.

Shopify revealed in a blog post Friday that it is now a member of the Libra Association, meaning that it contributed at least $10 million and will operate a node to process transactions involving the Libra coin.

The ecommerce provider wrote, “As online commerce becomes increasingly borderless, it’s easy to forget that payments and the value exchange of goods are not a solved problem everywhere.



Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in