PayPal becomes first member to exit Facebook's Libra Association

U.S. payments processor PayPal Holdings Inc said on Friday it was leaving Libra ...

) said on Friday it was leaving Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra, making it the first member to exit the group.

PayPal said it would forgo any further participation in the group and would instead focus on its own core businesses. In response, Geneva-based Libra Association said it was aware of the challenges lying ahead in its attempts to “reconfigure” the financial system.

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