February 21, 2020 / 4:12 PM / a month ago

Shopify to join Facebook-led Libra currency group

FILE PHOTO: Shadow of a 3D-printed Facebook Libra cryptocurrency logo is seen near cryptocurrency representation in this illustration taken, September 13, 2019. REUTERS/Dado Ruvic

(Reuters) - Canadian e-commerce company Shopify Inc (SHOP.TO) said on Friday it would join Libra Association, a group that manages Facebook Inc (FB.O) led efforts to launch a global digital currency, Libra.

"We will work collectively to build a payment network that makes money easier to access and supports merchants and consumers everywhere," Shopify said in a statement bit.ly/2PfrwKl.

Several companies including Vodafone Group PLC (VOD.L), Paypal Holdings Inc (PYPL.O) and Mastercard Inc (MA.N) have exited the association in recent months.

Facebook announced in June last year its plan to launch Libra in partnership with other members of the association, but the project soon ran into trouble with skeptical regulators around the world.

Libra Association did not immediately respond to Reuters request for comment.

Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi

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