Meta’s cryptocurrency projects are left without their manager, who leaves the company after seven years
You may not know David Marcus only by name, but he is the person who has been behind many projects of the now called Meta. Mainly focused on Novi and Diem cryptocurrency projects after working on Facebook Messenger and PayPal. But now Marcus has announced that he is leaving Meta in search of a hiatus and exploring new projects.
The executive has announced it through a thread on Twitter, admitting that he is leaving at a time where there is still work to be done in the field of cryptocurrencies within Meta but that he “remains as passionate as ever” in his mission to “change our payments and financial systems. ” Marcus will make his departure effective at the end of the year.
The main project that Marcus headed was Novi, a service that made use of blockchain to make international money transfers without the need to pay bank fees. At the moment it is only available in the United States and Guatemala. He also worked at Diem, the stable coin-type cryptocurrency that Meta wanted to launch at this time and about which we have no news at the moment. You may remember her more by her former name: Libra .
What we know for the moment is that now the new head of the Novi project is Stephane Kasriel, former CEO of Upwork. It will be up to him that both Novi and the cryptocurrency Diem successfully go through all the regulations that governments want to apply.