Checkout.com Is The Latest Company To Join The Libra Association

Checkout.com is the latest fintech company based in London, to join the Libra Association. The founder of the platform and CEO Guillaume Pousaz confirmed that the payments startup was the latest member of the association so let’s read further in the Libra latest news.

The startup is valued at around $2 billion and specializes in processing payments for e-commerce platforms. Checkout.com joined the Libra association because it was a fan of the mission to bring the Libra stablecoin to the people all around the world. The CEO commented:

 “In the Libra Association, we found a group of peers that share in [our] philosophy and who demonstrated a thoughtful and realistic approach to how blockchain can be leveraged for the greater good. The Libra project holds the promise of increasing financial inclusion for billions of unbanked people, empowering them to participate in the digital economy and reducing disparities.”

The Libra Association now counts 25 members along with major companies such as Coinbase, Uber, Spotify, and Lyft right beside Facebook of course. The platform is not the only new member of the Libra association since earlier this month the non-profit organization Heifer International joined. Heifer aims to solve the poverty issues and hunger around the world and is a fan of the Libra governing body. Also, the crypto brokerage firm Tagomi and Shopify joined the Libra Association in February. The Shopify team said at the time:

 “As a member of the Libra Association, we will work collectively to build a payment network that makes money easier to access and supports merchants and consumers everywhere.’’

However, as we reported in the Libra news previously, there were multiple companies that left Libra. some of them included Vodafone which pulled out at the start of the year. After Vodafone, there were several other major companies leaving the company such as eBay, PayPal, Stripe, and Mastercard back in 2019. Once the original Libra whitepaper was rolled out, the project was introduced as a stablecoin-like token which will be supported by a basket of multiple fiat currencies rather than one single currency.

A model like that one means that Libra will have a floating valuation based on multiple currencies and it would be a competitor to the currencies such as the USD. That was also one of the reasons that the regulatory bodies around the world rejected the idea.