On Monday, Facebook announced a new Facebook Pay leadership team ahead of a large roll-out on Instagram in the US.
David Marcus, co-creator of the Libra cryptocurrency project on Facebook, will head up the new group called F2, which is short for Facebook Financial, first reported by Bloomberg.
Facebook announces new online payments finance team
Stephane Kasriel, former CEO of UpWork freelancing website, and former PayPal director, will serve as vice president of payments.
The social media company launched Facebook Pay in November with the aim of enabling users to make payments on Facebook and Messenger in its suite of applications with initial roll out. It’s recently started carrying out Facebook Pay in Brazil’s WhatsApp. And it’s planning to roll out Facebook Pay on Instagram in the United States in the coming weeks.
In June of last year, Facebook also launched a digital wallet for the crypto-currency Libra network to help people transfer money worldwide under the name Calibra.