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Global payment provider checkout.com to join Facebook's Libra association

Written by  Apr 28, 2020

Global payment processing company Checkout.com said on Tuesday it would join Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra.

"The Libra project holds the promise of increasing financial inclusion for billions of unbanked people", the company said adding that it was important to regulate the blockchain space to ensure a secure and stable payments infrastructure.

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Bitcoin Exchange CEX.IO

In February, Canadian e-commerce company Shopify Inc said it would join Facebook’s Libra Association even as other firms such as Vodafone Group PLC, Paypal Holdings Inc and Mastercard Inc opted to exit the project, which ran into global regulatory troubles.

Facebook, which unveiled plans for Libra in June, said the cryptocurrency would be backed by a reserve of real-world assets, including bank deposits and short-term government securities, and held by a network of custodians.

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

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Carl Brough

Carl comes from a Crypto tech background in Blockchain, his flair and attention to detail is very important to the success of this website. Carl is a freelance journalist who now prefers to work from home and has such a broad range of experience in the alt coin market, we always appreciate his knowledge and ideas.

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