THELOGICALINDIAN - Meta Platforms aforetime Facebook has appear the end of its crypto activity Novi Users are brash to abjure funds as anon as accessible The advertisement followed the addition of a agenda wallet for the metaverse appear by Meta CEO Mark Zuckerberg
Crypto Project Novi Ending
Facebook buyer Meta Platforms Inc. (Nasdaq: META) appear Friday that its crypto activity pilot Novi “is catastrophe soon.” According to its website:
In Friday’s announcement, Meta explained that starting July 21, users will no best be able to add money to their Novi accounts.
In addition, starting Sept. 1, both the Novi app and Novi on Whatsapp will no best be accessible and users will not be able to log into their Novi accounts.
The aggregation has brash users to abjure their Novi balances afore Sept. 1. Any actual funds afterwards that date will be transferred to the coffer accounts or debit cards listed on their Novi accounts.
From Novi to Metaverse Digital Wallet
Novi is a agenda wallet that lets users alteration money instantly with no fees application cryptocurrency, its website explains. Meta launched Novi in beta aftermost October with Coinbase as its aegis partner.
Novi annual balances are kept in USDP (pax dollar), a stablecoin issued by Paxos Trust Company, a adapted entity. Meta ultimately planned to use cryptocurrency Diem, aforetime Libra, for the service. However, the aggregation faced assorted authoritative hurdles and eventually scrapped the plan. In January, Silvergate Capital said it had “acquired bookish acreage and added technology assets accompanying to active a blockchain-based acquittal arrangement from the Diem Group (‘Diem’).”
Meta has been ramping up its metaverse business. CEO Mark Zuckerberg said aftermost anniversary that his aggregation aims to allure billions of people to use the metaverse, breeding massive acquirement for Meta.
Zuckerberg additionally announced on June 22 that Facebook Pay is rebranding to Meta Pay. Moreover, he apparent a agenda wallet for the metaverse. “Beyond the accepted features, we’re alive on article new: a wallet for the metaverse that lets you deeply administer your identity, what you own, and how you pay,” the Facebook co-founder detailed.
What do you anticipate about Meta catastrophe the Novi crypto project? Let us apperceive in the comments area below.
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