After a long, painful string of defections, the Libra Association finally has some good news to announce. A new member, retail e-commerce site Shopify, made the $25 million commitment to join on Feb. 21.
Status as a Visa principle member will allow the cryptocurrency exchange to originate Visa debit card accounts on its own, a first in an industry determined to cut out financial services middlemen.
Vodafone has withdrawn from the Libra Association, the independent governing council for Facebook’s global cryptocurrency project. The British telecom giant said that it wants to switch gears and put the resources it originally intended for Libra into its African mobile money transfer service M-Pesa.
The tech giants that already know everything about you, and now they want to be your banker, too. What could possibly go wrong?
