Aug 10, 2020 at 20:02 UTCUpdated Aug 10, 2020 at 20:50 UTC.David Marcus is the co-creator of the Facebook-backed libra stablecoin.
Facebook formed a new payments group called "Facebook Financial" on Monday and put Novi wallet executive David Marcus at the helm.
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.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Facebook Taps David Marcus to Lead Payments Initiatives
Published on Aug 10, 2020
by Coindesk | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.