With the Online payment service Paypal the first well-known Partner for Facebook’s planned digital currency Libra.
Paypal confirmed the decision on Friday after US stock exchange conclusion in a Statement. Previously, there had been various media reports about alleged concerns in the face of massive criticism of the Facebook-initiated project. Held the reasons Paypal in the message, however, covered.
The company stressed, Libra, despite the absence more support to face and dialogue on possible future collaborations to maintain. Facebook will remain a valued strategic Partner, with the Paypal continue in different areas of work. According to U.S. media also Visa, Mastercard and Stripe to reconsider due to the strong political resistance to their participation in Libra.
The digital currency to be managed by the Libra Association, with headquarters in Switzerland. Facebook had presented the idea in the summer, a good two dozen well-known partners. First official members shall be called in the coming weeks, said the relevant Facebook Manager David Marcus, according to the Report. To be a part of it, “calm and confident” the “legitimate concerns” over Libra to tackle.
Facebook had recently rejected objections from the supervisors, according to Libra in the sovereignty of Central banks could intervene. In the case of digital currency, no new money will be spent, what will remain reserved to States, Top managers stressed Marcus. Libra is supposed to be protected according to previous plans, one-to-one with a basket of stable currencies and government bonds. Politicians and regulators fear, however, that the Fund will pay in the face of huge users of Facebook to distortions on the money markets could lead.
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