Former Paypal executive to lead Facebook Pay

Facebook Inc named former PayPal Holdings Inc executive Stephane Kasriel to lead Facebook Pay, a company executive said on Monday.

The social media giant will also create a new group to look after its payments-related initiatives, including Facebook Pay and WhatsApp payments, David Marcus, co-creator of Facebook’s Libra cyrptocurrency project said in a tweet.

Kasriel was also the former chief executive officer of freelance marketplace Upwork Inc , according to his LinkedIn profile.

Facebook did not immediately respond to a request for comment.

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