Facebook’s Messenger Head Joins Coinbase’s Board

With the booming crypto economy, exchanges all around the world are in a constant effort to become the next big industry. With this vision, the USA’s largest trading and wallet platform, Coinbase, has just announced that Facebook Vice President of Mobile Products David Marcus will join the Coinbase board of directors.

Mr. Marcus has a ton of experience in the tech industry, especially in the field of product development. Before joining Facebook, he was President of Paypal, where he fostered a dynamic, product-centric culture. He also founded a mobile payment company called Zong which was later acquired by Paypal in 2011.

Welcoming Mr. Marcus, Coinbase CEO and co-founder Brian Armstrong said: “David’s perspective and experience in bringing innovative and impactful products to market will be invaluable to Coinbase as we grow. David’s knowledge of both the Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and mobile space will help guide us in achieving our mission of creating a truly open financial system that will bring opportunity to people all across the globe.”

This will be the first role Mr. Marcus will take up in the cryptocurrency industry. In the excitement of joining this nascent sector, David Marcus noted: “I’ve been involved with and fascinated by Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term since 2012, and I’ve witnessed how Coinbase has started democratizing access to this new asset class. I’m convinced that what the company is working on has the potential to materially change the lives of people around the world, and I’m looking forward to working with Coinbase and its leadership team to help make this vision a reality.”

Thrilled to join the @Coinbase Board! Looking fwd to doing my best to help @brian_armstrong and the amazing team he's assembled, continue to democratize access to cryptocurrencies, and deliver on the mission to create an open financial system for the world https://t.co/CDGPu4RhYO

— David Marcus (@davidmarcus) December 12, 2017

Coinbase is expanding its reach day by day, and this is not the only big hire at the firm recently. Coinbase welcomed ex-Saxo Bank Director Asiff Hirji as president and COO earlier this month.

Coinbase also had an amazing VC fund-raising round in mid-2017 in which it raised $100 million for several investors. Now with deep pockets, the firm is set to make a big impact on the industry.