David Marcus, one of many prime executives at Meta Platforms Inc. and the co-creator of the yet-to-be-launched Diem digital foreign money, is leaving the corporate after seven years to pursue different initiatives. 

Marcus, who joined the Facebook parent company in 2014 from PayPal Holdings Inc., ran the Messenger service for years earlier than shifting over to kind the corporate’s blockchain division in 2018. He spent the previous couple of years constructing Novi, the corporate’s digital pockets that launched in October, and co-founded Diem, a digital foreign money previously generally known as Libra that was supposed as a method for individuals to ship cash cross-border.

Getting Diem off the bottom has confirmed to be a battle for Meta and Marcus. For the reason that mission was unveiled in 2019—with nice fanfare and dozens of companions—the foreign money’s debut has been delayed and its authentic ambitions have been scaled again. Diem confronted pushback from lawmakers and regulators when it was introduced, and whereas Meta continues to be a companion on the hassle, Diem is now run independently.

Marcus’s departure provides extra uncertainty to Meta’s digital fee push, however the longtime entrepreneur and angel investor says he has an itch to create one thing exterior the corporate. 

“Whereas there’s nonetheless a lot to do proper on the heels of hitting an essential milestone with Novi launching — and I stay as passionate as ever concerning the want for change in our funds and monetary programs—my entrepreneurial DNA has been nudging me for too many mornings in a row to proceed ignoring it,” in line with a weblog publish he plans to publish Tuesday. 

Register for Ad Age Next: CMO at AdAge.com/NextCMO.

Subscribe to Ad Age now for award-winning news and insight.