One of the co-founders of the Libra project, Morgan Beller, has resigned from Novi, the company that is working on the relevant wallet, in order to become a partner of NFX.
Beller is 27 years old and was Head of Strategy at Novi. NFX is a venture capital company focused on investments.
Morgan Beller told CNBC:
“When I knew there was an opportunity to go [to NFX] and get to work with these people, that was an opportunity I couldn’t really pass up”.
The Libra project, of which Novi is the main developer, is progressing very slowly, so much so that it is not yet known if and when it will reach the market.
In the meantime, Facebook, which launched the Libra stablecoin project, has created Facebook Pay, a solution that allows users to exchange fiat money and make purchases directly within all the company’s apps, including Instagram and WhatsApp.
As a result, the Libra project seems to have been pushed to the sidelines, even though the stablecoin could in the future also be integrated into Facebook Pay as an alternative currency to fiat.
From Libra to NFX, Morgan Beller’s path
Beller joined Facebook’s business development team in 2017, focusing on what they could do with blockchain technology in the future.
In 2019, she became one of the founders of the Libra project along with David Marcus, former president of PayPal and vice president of Facebook.
According to some members of the blockchain community, Beller was the real driving force behind Facebook’s decision to embark on the Libra project, and for this reason, her departure from the company may seem like a setback for the project itself.
However, Beller also stated.
“I love libra, I’m a fan girl of libra. I’m not going away. I’ll continue to be a friend, follow very closely and be involved at some capacity. It was just that when the NFX folks came knocking — this was obvious.
The crazy, weird, creative folks who are contrarians and see the world as broken or see the world differently than other people, those are the people I want to speak to”.
According to NFX General Partner James Currier, Beller is the kind of person who joins a business once every 10 or 15 years, and maybe that’s why she has decided to venture into this new adventure.