Apple chief Tim Cook weighs in against setting up digital currency

Apple Inc Chief Executive Tim Cook has weighed in against launching an Apple cryptocurrency, saying in remarks published on Thursday that companies should not be trying to gain power by establishing competing currencies.

Three months ago, Facebook announced plans to launch a digital currency in June 2020, in partnership with other members of the Libra Association set up by the U.S. tech giant to manage the project.

When asked whether Apple would follow suit, Cook told Les Echos daily newspaper it was not on his agenda.