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Facebook Taps David Marcus to Lead Payments Initiatives
Marcus will continue running Libra's Novi digital wallet as he takes on Facebook Financial.
Facebook formed a new payments group called "Facebook Financial" on Monday and put Novi wallet executive David Marcus at the helm.
STORY CONTINUES BELOW
- Marcus, who co-created the Libra stablecoin, said via tweet that he will continue running Facebook's Novi digital wallet subsidiary.
- The restructuring will allow the social media giant to better integrate its Messenger, Instagram and WhatsApp payments operations, Bloomberg reported.
- “It felt like it was the right thing to do to rationalize the strategy at a company level around all things payments," Marcus told Bloomberg.
- Former Upwork CEO Stephane Kasriel will serve under Marcus as Facebook's new payments vice president.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
