Ex-PayPal President And Libra Architect David Marcus Unveils A Banking Product For Businesses And AI Agents |
David Marcus has spent much of his career on making money move closer to the speed, reach and ease of the internet.
As president of PayPal, he helped scale one of the most successful payments businesses. Later, at Facebook, he helped lead Libra (Diem), the company’s failed attempt to build a global digital currency. Now he is revisiting that same ambition with a more grounded thesis—helping businesses embed banking services directly into their products without taking on the burdens of becoming banks.
On Tuesday, Marcus’ Los Angeles-based company Lightspark announced the launch of Grid Global Accounts, a new enterprise banking product that allows platforms to offer branded dollar accounts, stablecoin conversion, Visa debit cards and instant foreign-exchange services across more than 65 countries.
“Global payouts are a huge cost for businesses. They pay other entities that are taking their money and data to move money on their behalf,” says........