Meta to Repurpose Libra Wallet Tech for Web3 – PYMNTS.com

Facebook parent Meta told members it is closing its Novi digital wallet and they should remove their funds as soon as possible, certainly by September.

Observers said the move is further evidence that Facebook has decided to move on from its Libra cryptocurrency experience.

In May 2020, Facebook announced Novi with effusive language, stating in a news release: “It’s a new way to send money, and Novi’s new visual identity and design represent the fluid movement of digital currencies. We’ve also included a nod to the Libra icon in the brand logo to underscore our commitment to the Libra network.”

Among the features of Novi was the ability for some people to send cryptocurrency via WhatsApp chats.

The announcement of Novi’s imminent disappearance was far more terse.

“The Novi pilot is ending – withdraw your balance before September 1, 2022,” reads the headline of a post on Meta’s website.

The item itself states only: “Both the Novi app and Novi on WhatsApp will no longer be available…

Read Full Story: https://www.pymnts.com/meta/2022/meta-to-repurpose-libra-wallet-tech-for-web3/

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