Home Libra Shopify and Libra are Joining Hands: What is to Come?

Shopify and Libra are Joining Hands: What is to Come?

  • Libra Foundation, is now partnering up with the world’s largest online store maker Shopify.
  • Shopify is joining hands with Facebook’s very own Cryptocurrency. Facebook’s crypto, Libra, had broken the news headlines around the world when it was launched.
  • Libra was formally announced on the 18th of June in the year 2019, and the creators of the currency are listed as Morgan Beller, Kevin Weil and David Marcus.

The Cryptocurrency developed by Facebook, Libra Foundation, is now partnering up with the world’s largest online store maker Shopify.

Facebook has been ditched by quite a lot of partners such as eBay, Stripe and Visa amongst the others. But now Shopify is joining hands with Facebook’s very own Cryptocurrency. Facebook’s crypto, Libra, had broken the news headlines around the world when it was launched.

Libra is expected to launch in 2020, open-source Cryptocurrency is written in Rust and is currently in the development stage. The crypto and blockchain effort was started in 2017 by Morgan Beller, who was at that time the only one working on the blockchain project on Facebook.

Libra was formally announced on the 18th of June in the year 2019, and the creators of the currency are listed as Morgan Beller, Kevin Weil and David Marcus.

Shopify the E-commerce platform will contribute at least $10 million and will operate a node that will process transactions for the Libra’s coin.

If Libra manages to navigate through the International regulations that are currently not allowing it’s rolling, Shopify will be able to get way to process transactions without the use of credit or debit cards.

The Libra Foundation has designed the crypto in such a way that it will move between wallets with zero or a very very minimal fee and that could be of huge help to the Shopify platform which has over 1 million users on its platform.

Shopify and Libra to go hand in Hand

Shopify says that their mission is to make commerce better and accessible for everyone around the globe. To do so, they will have to spend a lot of time thinking about how they can make commerce better in various parts of the world where the banking and money could be made better by being a member of the libra foundation.

By joining their hands with the Libra Foundation, they both can together build a payment network that makes money easier to be accessed around the world and also to be able to build such a payment network that supports the merchants and their consumers everywhere.

Shopify also said that their mission has always been to be able to support the entrepreneurial journey of the huge number of more than 1 million merchants on their platform.

Shopify might be the platform that gives the Libra foundation the much-needed start in the market, that is, of course, if this partnership works out, unlike the other failed ones that Facebook saw in the past.

Download our App for getting faster updates at your fingertips.

en badge web generic.b07819ff

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners

Must Read

Iota Jumps Over +55.42% in the Last Seven Days Indicating Bulls Arrival

Iota trading at $0.4082 with the intraday gain of +21.95%, gives the positive breakout from the symmetrical triangle pattern over weekly chartThe...

XRP First Time Trading Above the Price Levels of September 2018

XRP breaks multiple resistance levels and currently trading at $0.7155 with the massive intraday gain of 59.02%, facing the new resistance at...

Security and protection of funds are that the prime priority for EagleFX

Headquartered at the Commonwealth of Dominica, Eaglefx was fashioned in 2019 with a vision to ease commerce for its customers and provides...

Lisk Bulls Targeting For $2.00 With No Signs of Reversals Amid Significant Bullish Run

After breaking above the crucial mark of $1.00, Lisk has further continued its positive run in the market and showing no signs...

Malaysian crypto trade says $3 billion blockchain bond is removed

 A Labuan-put together exchanging stage centred concerning computerized resources including cryptocurrency. Malaysian cryptographic money centred trade has been removed at the guarantor's solicitation.The...

Hackers used GoDaddy Employees to Hack Crypto Sites: Liquid and NiceHash

GoDaddy Employees have been fooled by the hackers and the crypto sites Liquid and NiceHash have been hacked.The hackers used a phishing...

Related News

Libra’s Co-founder Morgan Beller Exits Company to Join NFX

Morgan Beller quit from her role of Head of Strategy at Novi to become part of NFX in the capacity of general...

European Union to Declare a Regulatory Framework for Cryptocurrency

European Union to establish a new group of supervisorsThe draft for the regulation is expected to be 167 pages long and is...

Facebook’s ‘Libra’ Doesn’t Find Much Takers

A recent IBD/TIPP poll has revealed that as much 85% voters are not keen over the release of Facebook's very own digital...

Digital Dollar a Potential Competition to Bitcoin, Predicts Raghuram Rajan

Cryptocurrency Bitcoin and Libra by Facebook could also play a role even if central banks start issuing their own digital currencies, says...

Former RBI Governor Raghuram Rajan comments on Bitcoin having a place with CBDCs

Former RBI Governor and economist says Libra and Bitcoin will play part in CBDCsThe banker who predicted the 2008 crisis compares Bitcoin...