October 4, 2019 / 8:13 PM / 12 days ago

RPT-Paypal withdraws from Facebook's Libra Association

(Repeats to add story slug for certain clients)

WASHINGTON, Oct 4 (Reuters) - U.S. payments processor PayPal Holdings announced Friday it was withdrawing from the Libra Association, a Facebook-led effort to build a global digital currency.

In a statement, PayPal said it would forgo any further participation in the group, saying instead it would focus on its own core businesses. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future,” the company said in a statement. (Reporting by Pete Schroeder Editing by Leslie Adler)

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