PayPal Holdings, one of America's most popular online payment companies, has announced the departure of the Libra Association, which has been formed on Facebook.
PayPal was one of 28 members of Facebook's digital currency project. PayPal announced a release from the cryptocurrency club worldwide on Friday.
The club has members of companies including Visa, Uber, Lyft, and MasterCard. In a statement issued by PayPal, headquartered in San Jose, US, the company said that the current structure and methodology would provide more and more users with secure and reliable service.
It is the first company to be a founding member of Libra, officially announced on June 2019. Libra was announced on June 2020 in partnership with another member.
But PayPal said it would continue its cooperation with Facebook. PayPal made the decision after the US newspaper Wall Street Journal printed the news that other companies, including Visa and MasterCard, were about to abandon their founding members.
