Facebook Taps David Marcus to Lead Payments Initiatives
Marcus will continue running Libra's Novi digital wallet as he takes on Facebook Financial.
Updated Sep 14, 2021 at 9:42 a.m. UTC
![David Marcus is the co-creator of the Facebook-backed libra stablecoin. (CoinDesk archives)](https://www.coindesk.com/resizer/yI5ldY3ERz2up8-anx7VPv5Zxss=/567x272/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JRLNK5IZ2NA5TJ2NOX6M3YBOMA.jpg)
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.