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Back in October, Facebook (now Meta) introduced a small test to run his cryptocurrency wallet New in the US and Guatemala. The pilots were able to send their money through the service from then on. Now, the company has announced that fewer people in the US will be able to send and receive Novi payments from within WhatsApp.
Growth is not surprising: Novi co-founder David Marcus he said earlier that Meta will pay Novi payments to all its organizations, namely Facebook, Instagram and WhatsApp. For WhatsApp, sending money is as simple as sending a message – users will no longer need to leave the app. It is an easy way to send money without having to pay a fine. To do this, users need to find the ones they want to connect with within WhatsApp, click the paper icon on Android or the + iOS icon in the lab bar, select Payment and follow the instructions on how to log into their Novi account.
Novi CEO Stephane Kasriel said on Twitter: “We often hear that people use WhatsApp to agree to send money to loved ones, and Novi helps people to do that carefully, instantly and free of charge. Payments will be reflected directly on social media.”
Facebook has been laughing at its digital wallet and Diem (formerly Libra) cryptocurrency which has been supposed to support for years. After facing the pushback from world leaders, however, the Diem Association changed its mind, and Novi ended up using a stablecoin called Pax Dollar (USDP) backed by the US dollar. At Novi, 1 USDP equals 1 USD. People do not buy cryptocurrency when they use it, they just take the money that uses stablecoin as a tool. While sending USDP via Novi on WhatsApp is very limited at the moment, Kasriel said the project will see an increase until it receives feedback from users on what has happened.
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