Meta Drops The Axe On Its Digital Wallet Novi
The remnants of Meta’s once-ambitious cryptocurrency project are fading away. According to a notification on its website, a pilot program for Novi, the social networking giant’s money-transfer service using its own cryptocurrency digital wallet, will suspend operations on September 1. The company said Friday that on July 21, users will no longer be able to […]
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Meta Platforms, formerly Facebook, has announced the end of its crypto project Novi. Users are advised to withdraw funds as soon as possible. The announcement followed the introduction of a digital wallet for the metaverse, announced by Meta CEO Mark Zuckerberg. Crypto Project Novi Ending Facebook owner Meta Platforms Inc. (Nasdaq: META) announced Friday that its crypto project pilot Novi “is ending soon.” According to its website: Novi will no longer be available for use after September 1. In Friday’s announcement, Meta explained that starting July 21, users will no....
Some U.S. activists previously asked the DOJ to stop Meta from offering its digital currency wallet Novi on its platforms. Despite some senators in the United States opposing Meta launching its digital currency products, the development of the social media giant’s digital wallet, Novi, continues apace. Stephane Kasriel, head of Meta’s cryptocurrency and fintech unit Novi, officially announced on Wednesday that Meta’s messenger subsidiary, WhatsApp, has started testing transactions through Meta’s Novi wallet.According to the executive, the new feature is available for a “limited number of....
Meta’s wallet pilot Novi is set to end in September, with the announcement coming days after Mark Zuckerberg touts Meta Pay on Facebook. Meta’s first foray into the world of cryptocurrencies is set to end in September with the closure of its Novi wallet pilot project.Novi’s website landing page has been revamped to inform pilot users that the platform will be decommissioned on September 1. This ends an eight-month-long pilot project that saw users based in the United States and Guatemala trial the cryptocurrency-powered payment platform.Users are directed to withdraw the remaining funds....
Five U.S. Senate Democrats have called for Facebook to discontinue its crypto projects. The senators addressed a letter to CEO Mark Zuckerberg on Tuesday just hours after the launch of its digital wallet in partnership with Coinbase. Related Reading | Coinbase To Power Social Giant Facebook’s New Novi Crypto Wallet Facebook’s new digital wallet Novi is part of […]
Novi, Facebook’s digital wallet, will launch a pilot program to test the functionality of the service in two countries: Guatemala and the U.S. The test will allow Novi to test all of its main functions and to evaluate what things need to be improved before launch. Novi will use pax dollars as the main currency during the test, but David Marcus, head Of Facebook Financial, stated they still plan to launch with Diem once it gets greenlighted by regulators.
Novi Launches Test Pilot Sans Diem
Novi, Facebook’s digital wallet, is now running a test pilot program of its....