WhatsApp launches cryptocurrency payment test with Novi

This page was translated using AI and machine learning.

(Pocket-lint) – WhatsApp is testing a cryptocurrency feature powered by Novi, Meta’s digital wallet that launched as a pilot a few months ago.

The chat app kicks off with a test that allows a “limited number” of people in the United States to send and receive payments in Pax Dollars (USDP), a US dollar-backed stablecoin issued by Paxos. According to Novi’s website, to send payment using WhatsApp, you must first tap the paperclip icon on Android or the + icon on iOS, then select “Payment” from the menu options.

There are no fees or limits for sending or receiving cryptocurrency, and payments are transferred instantly.

There’s a new way to try digital wallet @Novi. Starting today, a limited number of people in the United States will be able to send and receive money using Novi on @WhatsApp, which will make l sending money to family and friends as easy as sending a message. pic.twitter.com/dGz3lejri7

– Stéphane Kasriel (@skasriel) December 8, 2021

Meta’s cryptocurrency plans have changed a lot in recent years. Originally, he planned to develop a cryptocurrency, called Libra, which would be part of a digital wallet developed by Facebook called Calibra. Libra later became Diem and Calibra became Novi, which was launched without Diem. Meta now uses Paxos Pax Dollars and relies on the Coinbase exchange as a custodial partner.

Apparently, Meta is still attached to Diem, or at least the company’s former Novi chief claimed so in October. David Marcus has tweeted : “We intend to launch Novi with Diem once it receives regulatory approval”. But Marcus has also announced that he was leaving Novi at the end of the year.

Written by Maggie Tillman. Originally published on December 9, 2021.