Checkout.com, a $15 billion payments startup based in the United Kingdom, has <a href="https://www.cnbc.com/2021/12/17/payments-start-up-checkoutcom-poaches-crypto-exec-from-meta-fb.html" target="_blank" rel="nofollow noopener">appointed</a> Meron Colbeci, a former Meta executive, as its chief product officer.

Colbeci joined Meta, formerly Facebook, as director of product management in 2018 to assist with the development of the Novi cryptocurrency wallet and other payment efforts.

He was most recently Novi's head of consumer product management, where he worked closely with David Marcus, the division's outgoing CEO. Last month, Marcus revealed his decision to leave <a href="https://www.cryptoknowmics.com/news/matrix-star-keanu-reeves-talks-crypto-nfts-and-metaverse/">Meta's</a> blockchain unit.

David is an icon and a financial services visionary," Colbeci told CNBC via email. "I learned a lot from him in our time together and considered him a mentor and a friend, but I was attracted to what Checkout.com had to offer and the company's vision for the future of payments."
<h2>Checkout.com poaches Meta crypto </h2>
Colbeci's departure was disclosed internally last week, and he began working for Checkout.com this week.

Colbeci will begin his employment with Checkout.com in the San Francisco Bay Area, California, but he hopes to relocate to Europe within the following year. Checkout.com, founded in 2012 by Guillaume Pousaz, a college dropout turned fintech entrepreneur, processes digital payments for companies ranging from Sony to Klarna.
<h2>Meta  Struggled to Get its Crypto Initiative</h2>
Colbeci's departure from Meta follows a slew of high-profile exits from the organization. Marcus co-founded Meta's Diem digital currency project and is expected to leave the company by 2021. Another co-founder, Morgan Beller, quit the company last year.

Meta has failed to get its crypto project off the ground because regulators are concerned that it could disrupt the financial system and lead to illegal activities such as money laundering.

Following a rash of withdrawals from prominent members, including PayPal, Visa, and Mastercard, Checkout.com joined the Meta-backed Diem Association last year.

Novi, Meta's cryptocurrency wallet, was just launched as a test with a small group of users in the United States and Guatemala. Rather than Diem, it uses Paxos, a lesser-known stablecoin.

Stablecoins, unlike most cryptocurrencies, are purposefully designed to avoid volatility, with the majority of them matching the price of government-backed currencies like the dollar.

Checkout.com Poaches Meta Crypto exec to Lead Product Strategy

Checkout.com, a $15 billion payments start-up based in the United Kingdom, has appointed Meron Colbeci.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Checkout.com Poaches Meta Crypto exec to Lead Product Strategy

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