- Novi is trailing integration with WhatsApp, allowing users to send money as easily as messages
- The system involves sending USDP across Novi’s network
- The trial is the first step towards realization of a dream that began with Libra back in 2019
Novi, the cryptocurrency wallet created by Meta which started life as Libra under the Facebook brand what seems like eons ago, will be given its first taste of real usage when it is piloted within WhatsApp by a number of trialists. Novi says that using its system means sending money is as simple as sending a message, with users able to buy tokens within WhatsApp and recipients able to cash out instantly if they wish.
Novi Pilot Open to Select Trialists
Novi lead Stephane Kasriel announced the launch of the trial on Twitter on Wednesday, stating that “a limited number of people in the US will be able to send and receive money using Novi”, with the payment service utilizing the USD-pegged stablecoin Pax Dollar (USDP) as the actual medium:
There’s a new way to try the @Novi digital wallet. Starting today, a limited number of people in the US will be able to send and receive money using Novi on @WhatsApp, making sending money to family and friends as easy as sending a message. 💸💬 pic.twitter.com/dGz3lejri7
— Stephane Kasriel (@skasriel) December 8, 2021
The idea behind the Novi integration is theoretically easy – users simply select how much they want to send and make the transaction within WhatsApp using Google/Apple Pay or the equivalent to buy the tokens, with the USDP being sent to the recipient who can cash out or retain it, with payments arriving in seconds.
Novi Pilot Years in the Making
The pilot, which has been years in the making, is the first step towards the realization of a dream for Meta, a dream that began back in 2019 when Facebook announced Libra, before backlash from governments and regulators forced them to back down and significantly scale down its plans. This more streamlined version of Libra is, ironically, a much more feasible and needed system and could introduce the concept of cryptocurrency to hundreds of millions of people literally overnight.
Rumors over the pilot didn’t go down well when they emerged two months ago, with U.S. lawmakers publishing an open letter to demand that Meta “immediately discontinue” work on Novi.