Investor Paypal is Cautious about Facebook Cryptocurrency Libra
PayPal is cautious about the future of Facebook-backed cryptocurrency Libra, which is slated to debut with the pioneering digital payments firm as part of its oversight association.
The International outcry is mounting over Libra with central banks, governments and regulators railing against Facebook's upstart cryptocurrency and questions over how it would be regulated.
The social media giant unveiled plans in June for Libra which will roll out in 2020 to be backed by a basket of currency assets to avoid the wild swings of Bitcoin and other virtual units.
"It's a non-binding commitment," PayPal investor relations vice president Gabrielle Rabinovitch said, the California-based company signing on to the Libra Association.
"And obviously, I think there's a lot of work to happen b...