PayPal official says Libra requires a lot of work before launch

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  • PayPal membership at the Libra Association remains to be a non-binding commitment.
  • PayPal believes Libra needs a lot of work to transform Libra from idea to product.

The vice president of Investor Relations at PayPal, Gabrielle Rabinovitch says that the company is cautious when it comes to Facebook’s proposed Libra crypto project. In the Agence France Press (AFP) report on September 14, Rabinovitch double-down on the fact PayPal membership at the Libra Association remains to be a “non-binding commitment.”

“Obviously, I think there’s a lot of work to happen before we get to that point where it [Libra] becomes something more than just a very exciting idea.”

As reported earlier, Libra representatives will be meeting officials from at least 25 global central banks to discuss the project on Monday 16. Leading the meeting will be European Central Bank’s Benoit Coeure.

 

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