Mark Zuckerberg’s company Meta launched a new digital wallet, Novi, that supports cryptocurrencies last year. However, this project doesn’t seem to work. Meta has announced that it will shut down and shut down Novi within the next few months.
As highlighted in Platform website (via The Verge), Novi will no longer be available as of September 1, 2022. Also, after July 21, 2022, users will no longer be able to add money to their Novi account. When the platform is closed, all user accounts will be disabled. This means that the rest of Novi’s money must be sent by September.
If you have money left in your Novi account after the pilot ends on September 1, 2022, we will try to transfer your balance to the bank account or debit card you added to Novi. If you have any questions about accessing your balance after completing the pilot, please contact us.
Novi was part of Meta’s ambitious plan to invest in cryptocurrencies. Released as a standalone app in October 2021 and then Integrated into WhatsApp a few months later.. However, Novi was not launched in countries other than the United States and Guatemala.
Novi was based on Meta-backed cryptocurrency “Diem”. however, BloombergThe company may have abandoned the project because the Facebook owner was suffering from regulatory scrutiny. Meta continues to invest in “web3 space” in a statement, and Novi’s technology is a new product, especially Metaverse..
Unfortunately, WhatsApp Pay is currently only available in Brazil and India, so WhatsApp users in the US and Guatemala will not be able to quickly send money to other users using Meta’s messaging app.
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