Technology company Facebook has just announced that it is ready to deploy an e-wallet between now and the end of the year for users to store digital money.
In an interview with the press, the head of Facebook's e-wallet project David Marcus said that company leaders are committed to deploying Novi e-wallet between now and the end of the year.
Mr. Marcus added that Facebook will launch the Novi digital wallet along with Diem - the USD-pegged digital currency that the company is also developing. However, Facebook is not sure when to launch this coin.
Last May, Mr. Marcus announced that Facebook's digital wallet would use the official name "Novi", instead of the original name "Calibra." According to Mr. Marcus, "Novi" comes from the Latin word meaning new method of depositing money.
A Facebook representative also added that Novi will work as a dedicated smartphone application, and can also integrate into Facebook communication applications such as Messenger and WhatsApp.
The free Novi e-wallet promises to give Facebook the opportunity to establish financial services and expand its e-commerce offerings.
In 2019, Facebook announced plans to launch a digital currency then called "Libra". This company has established the Libra Association, which includes 28 original members, including Mastercard and Uber.
However, there are mixed opinions about Libra. Proponents claim that the digital currency can help customers reduce transaction and payment costs in the banking system. Meanwhile, opponents argue that this currency can disrupt the global monetary system and money markets.
The Libra Association has adjusted its plan towards creating separate "stable currencies" that will be priced according to the value of real currencies such as the dollar and the euro. In December 2020, Facebook changed the name of Libra cryptocurrency to Diem and announced the Diem coin development project moved operations from Switzerland to the US as part of the project's strategic change.
#Novi #e-wallet #Facebook
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Crypto