Coinbase Appoints Facebook Messenger VP

Cryptocurrency exchange Coinbase has confirmed the appointment of a high-profile new board member, as a Facebook Messenger executive becomes the latest person to join the startup.

David Marcus, a VP at Facebook Messenger, has been confirmed as the newest member of the Coinbase board, in a move that has been interpreted as a significant milestone in the company’s journey.

With extensive experience in developing large-scale mobile applications in the payments sector, Marcus will bring a fresh perspective to the Coinbase team as it looks to capitalize on the recent surge in cryptocurrency trading, according to a press release issued by the company today.

Prior to joining Facebook, Marcus was president of PayPal, and has previously spoken of the potential for cryptocurrencies to “materially change the lives of people around the world.”

Before his appointment to PayPal, Marcus sold his payments startup Zong to eBay for around $250 million, completing an impressive resume of relevant career experience.

Addressing the appointment, Coinbase CEO Brian Armstrong said Marcus’s experience would provide essential support at an important juncture for the company, as cryptocurrencies move more rapidly into the mainstream.

“David’s knowledge of both the payments 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.”

The news comes at an exciting time for Coinbase, a company many consider to be now fundamental to the digital currency trading ecosystem. Founded in 2012, the company had expanded to over 13.3 million users as of November 2017.

Driven by the recent surge in cryptocurrency prices, Coinbase has been onboarding new users at its fastest ever rate, with its dedicated iPhone app now leading the download charts in the App Store. And with digital currencies showing no signs of a slowdown, this trend could be set to continue in the weeks and months ahead.

Earlier today, unprecedented levels of demand for ethereum and litecoin led to a suspension of trading in both currencies, while bitcoin prices were trading back near all-time highs at $17,384.