Brazil-based digital bank Nubank has added former Meta and PayPal executive David Marcus to its board of directors, where he will contribute to Nubank’s international expansion. Nubank, which recently launched its own cryptocurrency as part of an incentive marketing program, has more than 70 million customers in Mexico, Brazil and other countries and is also developing a Web3 strategy. Marcus, who is now CEO of cryptocurrency startup Lightspark, was head of blockchain initiatives at Meta, including a leadership role in the Diem stablecoin project. Diem was hit by nearly constant regulatory and political pressure, and Meta eventually sold Diem’s assets to Silvergate Bank, which recently suspended the stablecoin project. Marcus was also president of PayPal until joining Meta in 2014.-
—John Adams
