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The e-commerce software platform will contribute at least $10 million to the project, reports TechCrunch.
Shopify says Libra will help it "build a payment network that makes money easier to access and supports merchants and consumers everywhere." TechCrunch also notes that the cryptocurrency could save Shopify credit card fees.
But Shopify joins the Libra Association after a number of high-profile companies have pulled out, including Visa, Mastercard, Stripe, PayPal and eBay.