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Facebook Financial Formed to Pursue Company’s Payments Plans

  • Libra cryptocurrency co-creator David Marcus to lead new group
  • Former UpWork CEO Stephane Kasriel joins as payments VP
The "Like" logo is displayed at Facebook headquarters in Menlo Park, California.
Photographer: David Paul Morris/Bloomberg
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Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-creator of its Libra cryptocurrency project, in charge of the initiative.

Called F2 internally, short for Facebook Financial, the team will run all payments projects, including Facebook Pay, the company’s universal payments feature that it plans to build inside all of its apps.