
PayPal withdraws support for Facebook’s Libra cryptocurrency - Anon84
https://www.theverge.com/2019/10/4/20899310/facebook-libra-paypal-online-currency-payment-system-cryptocurrency
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> The company doesn’t cite a specific reason, saying only in a statement given
> to The Verge that it decided “to forgo further participation in the Libra
> Association at this time and to continue to focus on advancing our existing
> mission and business priorities as we strive to democratize access to
> financial services for underserved populations.”

It was never clear why companies like PayPal signed up in the first place,
other than to avoid alienating Facebook.

PayPal has everything to lose with a Libra success and little to gain. This
goes for the other association members. Their businesses are built on the
friction of making and receiving payments.

This will likely be the first of many such announcements.

