--EBay Inc. (EBAY) is dropping out of Libra, Facebook Inc.'s (FB) nascent cryptocurrency, The Financial Times reported Friday.

--A spokesperson for eBay said, "We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member. At this time, we are focused on rolling out eBay's managed payments experience for our customers," according to the report.

--PayPal and Stripe also have withdrawn from Libra.

Newspaper website: www.ft.com

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 11, 2019 16:09 ET (20:09 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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