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Paypal CEO On Why Paypal Left Libra Association

Minh Nguyen

Summary: Dan Schulman, CEO of Paypal, reveals the reason why he withdrew from Facebook’s Libra project during an interview with The Fortune today. He states that Paypal is interested in the new technology that Facebook has to offer, but the company decides to part ways as they learn more about Libra and see the opportunity to advance ...

Dan Schulman, CEO of Paypal, reveals the reason why he withdrew from Facebook’s Libra project during an interview with The Fortune today. He states that Paypal is interested in the new technology that Facebook has to offer, but the company decides to part ways as they learn more about Libra and see the opportunity to advance financial inclusion faster if they focus on utilizing their own resources. Dan also confirms that Paypal is working on a cryptocurrency and blockchain project, which is not necessarily a direct competitor to Libra but more of a competitive advantage.By Minh Nguyen

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