Meta discontinues Novi crypto digital wallet

The wallet was only launched in 2021 but will no longer be available after 1 September 2022, while users will no longer be able to add money to their Novi account as of 21 July 2022. Moreover, all user accounts will be deactivated with the termination of the platform, which means customers must transfer any remaining funds before September 2022.

Novi was part of Meta’s plans to invest in cryptocurrencies and was built as a stand-alone platform that later integrated into WhatsApp although it was never launched in countries like the US and Guatemala. The wallet was based on Diem, a crypto backed by Zuckerberg’s company. 

However, as the CEO of Facebook faced regulatory scrutiny, the Novi wallet was dropped, although the social media platform will continue to use its technologies for new products, especially related to the Metaverse.
the paypers logo

The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.

 

The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.

 



No part of this site can be reproduced without explicit permission of The Paypers (v2.7).

Privacy Policy / Cookie Statement

Copyright