Stephen Lam | Reuters
David Marcus, vice president of Messaging Products at Facebook, speaks on stage during the annual Facebook F8 developers conference in San Jose, California, April 18, 2017.
A top Facebook executive will be joining the board of cryptocurrency exchange Coinbase.
David Marcus, head of Facebook’s Messenger service, will join the venue’s board of directors, Coinbase CEO Brian Armstrong said in a blog post Tuesday.
Coinbase will be currently the most well-liked app on Apple’s App Store, according to data by market insights firm App Annie. of which has experienced several outages in recent weeks as investment in bitcoin in addition to various other cryptocurrencies has surged.
On Tuesday, the platform told users of which transactions in Ethereum in addition to Litecoin were temporarily disabled. Although of which did not immediately explain why, the company said in a statement last week of which had been “experiencing record high traffic” after its website went down for about an hour.
Coinbase said of which would certainly look to harness Marcus’ experience in payments in addition to mobile technology. The Facebook Messenger chief has also served as president of PayPal.
“David’s perspective in addition to experience in bringing innovative in addition to impactful products to market will be invaluable to Coinbase as we grow,” Coinbase’s Armstrong said in a statement Tuesday. “David’s knowledge of both the payments in addition to mobile space will help guide us in achieving our mission of creating a truly open financial system of which will bring opportunity to people all across the globe.”
Marcus said he had been “fascinated” by the cryptocurrency space for 5 years.
“I’ve been involved with, in addition to fascinated by cryptocurrencies since 2012, in addition to I’ve witnessed how Coinbase has started out democratizing access to This specific brand new asset class,” he said. “I’m convinced of which what the company will be working on has the potential to materially change the lives of people around the globe, in addition to I’m looking forward to working with Coinbase in addition to its leadership team to help make This specific vision a reality.”
CNBC has reached out to Facebook for comment.