Libra Association has given the lead over the financial-services projects of the group to one of its board members, given a sign of where Facebook is heading with its finance offerings.
David Marcus is the new head of F2, the acronym for Facebook Financial, according to his LinkedIn profile. He is one of the board members of Libra Association in Geneva, der cryptocurrency project of Facebook.
Facebook Financial is the umbrella organization for all financial projects of the social-media giant. They include Facebook Pay, a tool that allows users of Whatsapp or Messenger transfer money to a friend or member of family.
The Concerned Central Bankers
Marcus, who stems from Geneva, according to «Handelszeitung», remains the head of Novi Financial. The latter is the Facebook unit which develops a digital wallet for Libra.
Libra has been in the headlines recently, because its activities have caused alarm among central bankers about the future of monetary policy. Only last week, two professors at ETH Zurich launched a bid for an e-franc for the general public.
