Paypal Giant Cautious About Its Libra Partnership

cryptowarrior88 (59)in #cryptocurrency • 5 years ago

The digital payment giant Paypal is cautiously optimistic about its relationship with Facebook’s Libra, a cryptocurrency project that is aimed at cross-border payments and settlements.

It is among the first companies to join the Libra Association in June when Facebook announced the project to the public joining a collection of tech and finance companies promoting the project.

According to Paypal they believe in democratizing participation in the digital economy for people from all walks of life and businesses of all sizes, and Libra could serve this purpose.

Vice President of Investor Relations, Gabrielle Rabinovitch, however, stated that the company’s relation with Libra is a non-binding commitment and there is still a lot of work to be done before it can be something more than just a very exciting idea.

She adds that what Libra is trying to achieve resonates well with her companies overall ambitions in terms of serving the underserved and democratizing access to capital as well as Libra’s potential.