Coinbase co-founder and CEO Brian Armstrong wrote in a blog post that Marcus' experience will "add breadth and depth to the Coinbase board and will help the leadership team as the company focuses on becoming the most popular, and safest place to buy and sell digital currencies."
Prior to Facebook, Marcus served as president of PayPal after his mobile payments company, Zong, was acquired.
"I've been involved with, and fascinated by cryptocurrencies since 2012, and I've witnessed how Coinbase has started democratizing access to this new asset class," Marcus wrote in a statement. "I'm convinced that what the company is working on has the potential to materially change the lives of people around the world, and I'm looking forward to working with Coinbase and its leadership team to help make this vision a reality."
Coinbase has exploded in popularity in recent weeks, rising to the top free app on the iOS App Store as people become more interested in cryptocurrencies like Bitcoin, Litecoin, and Ethereum.