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2019-10-05 18:02:18

Paypal Libra partnership gone kaput – PayPal officially backs out

After seeing some bonhomie, the PayPal Libra partnership has officially broken. PayPal issued a statement on Friday that it will no longer be supporting Facebook’s Libra cryptocurrency development. This news will certainly give more fuel to the negative press Libra has been getting lately. The advent of Facebook’s Libra saw many large corporations take a keen interest in its development. Influential organizations dreamt of becoming a part of the cryptocurrency’s development and earn handsome profits. However, 2019 saw Facebook’s Libra cryptocurrency grapple with many regulatory issues across the globe. Recent developments have diminished the interest of the organizations who were