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The controversial Libra Association – the group behind Facebook’s upcoming Libra cryptocurrency – has just acquired Checkout.com as a partner.
Checkout.com, a “global payment services provider” offers a similar service to the would-be cryptocurrency once (or if) it comes to. The joining of the two companies isn’t inherently surprising, then.
A blog post on the matter, written by Guillaume Pousaz, the CEO and Founder of Checkout, shared some insight as to why the two groups are joining:
“Absent of such regulation, it is our fundamental belief that the technological advancements alone would fail to provide the secure and stable payments infrastructure required to drive mass adoption, impeding its progress.”
Essentially, the two have similar values. After all, the Libra Association is meant to bank the unbanked in a literal way. Checkout, of course, would benefit from more users being able to use their services, so one can clearly see why they would push this vision.
“It is obvious to me and the wider Checkout.com team that we want to be part of this effort and can contribute to this endeavor by bringing our unparalleled payments engineering expertise,” Pousaz continues.
It’s worth noting, however, that Libra isn’t exactly in the world’s good graces. Regulators are after the company even after it changed some things around to try and appeal to them.
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