PayPal has rescinded its involvement with the libra association, becoming the first company of 28 to pull support from the cryptocurrency. The move comes after PayPal, which is owned by eBay, said it would no longer accept donations in bitcoin or litecoin, citing concerns about security and volatility. It said in a statement: “PayPal has made the decision 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 democratise access to financial services for underserved populations. Mastercard and Visa are also reconsidering their position and have set a meeting with representatives from all companies for 14 October.
PayPal has rescinded its involvement with the libra association, becoming the first company of 28 to pull support from the cryptocurrency. The move comes after PayPal, which is owned by eBay, said it would no longer accept donations in bitcoin or litecoin, citing concerns about security and volatility. Mastercard and Visa are also reconsidering their position and have set a meeting with representatives from all companies for 14 October.