Canadian Shopify Joins Libra Association

The e-commerce specialist Shopify just joined Libra, the project of cryptocurrency giant Facebook.

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1 The e-commerce specialist Shopify just joined Libra, the project of cryptocurrency giant Facebook.

The arrival of Shopify within the association Libra intervenes after the media departure of several members such as PayPal, MasterCard or Vodaphone last month.

Shopify spends a lot of time thinking about how to improve trade in areas where money and banking could be much better. That’s why we decided to become a member of the Libra Association" said Tobi Lutke, CEO of Shopify on Twitter.

Launched in 2004, Shopify is a e-commerce platform which allows individuals and businesses to create their own online stores.

According to the Ottawa-based firm, part of global financial infrastructure "Was not built to meet the needs of Internet commerce". As a member of the Libra Association, she thus wishes to "work collectively" to develop a payment network in order to "support traders and consumers around the world".

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The foundation Libra now counts 21 members (28 initially), including Calibra, Uber, Illiad, Coinbase, Andreessen Horowitz, Anchorage or Spotify, to name only the most important.

Although the group has not yet convinced regulators in the United States and Europe, it hopes to launch its digital coin by the end of the year.

In January, the president of Anchorage, the founder of Bison Trails and 3 other industry experts joined the steering committee of the non-profit foundation based in Switzerland.