A connected wallet for connected world Novi is available on WhatsApp now


Image Source: Coin telegraph

In October, Meta launched a small pilot test of its cryptocurrency wallet Novi in the US and Guatemala. Pilot testers have been able to send payments through the services since then. Now the company has announced that a limited number of people in the US will also be able to send and receive Novi payments from within WhatsApp.

The evolution doesn’t come as a surprise, co-founder David Marcus that Meta will launch Novi payments to all of its subsidiaries like Facebook, Instagram and WhatsApp. The procedure of sending money is as simple as sending a message. It also not requires any incurring fees. To do so users will have to find their intended contact within WhatsApp, tap the paper clip icon on Android or the +icon on iOS in the text bar, select payment and follow instruction on how to log into their Novi account.

Image Source: Redmond Pie

Novi uses USDP (Pax Dollar), a digital currency which runs on secure block-chain technology. People can sign up for Novi by downloading the Novi app. It will also be available in other Meta apps, like Messenger and WhatsApp, soon. At Novi, we believe when money moves more freely, the world moves forward.

Facebook has been teasing its digital wallet and the Diem (formerly Libra) cryptocurrency it was supposed to support for years. After facing pushback from regulators around the world, though, the Diem Association shifted its focus, and Novi ended up using a stable coin called the Pax Dollar (USDP) that’s backed by the US dollar. On Novi, 1 USDP is equivalent to 1 USD. People won’t be buying cryptocurrency when they use it, and its simply money transfers that use stable coin as an instrument. While sending USDP via Novi on WhatsApp has extremely limited availability for now, Kasriel said the service will look to expand its reach after getting feedback from users about the experience.


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