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April 29, 2020Blog Posts

Payments processor Checkout.com joins Libra Association

The Block

Checkout.com, a London-based payments processing platform, has joined the Libra Association.

In a blog post, Checkout.com founder and CEO Guillaume Pousaz, said blockchain has the potential to bring several benefits to global transaction processing.

“I look forward to working with our Libra Association peers to develop this new network and help shape the impact it will have on global commerce,” said Pousaz.

Notably, Checkout.com is the first payment processor to join the association after U.S. giants Visa, Mastercard and Stripe all withdrew from the stablecoin project last October.

The addition of Checkout.com brings the total number of members in the Libra Association to 24. Last week, nonprofit Heifer International joined the association.

Earlier this month, the association announced several changes to the Libra project. Instead of pursuing a stablecoin backed by multiple fiat currencies in reserve, it will now issue several single-currency stablecoins. A Libra token will still exist but will be a “digital composite” of these single-currency stablecoins. These changes are apparently aimed at easing the concerns of regulators.

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Accept Payments Online with Checkout.com - Global Payment Processing
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