Sunday, July 3

Send cryptocurrencies by WhatsApp? Meta starts tests in Novi wallet

Key facts:
  • Two months after the launch of Novi, Meta’s USDP wallet, WhatsApp payments are activated.

  • The service will work only in some users in the United States as a pilot test in principle.

From this December 9, it is possible to receive and send money by WhatsApp through a cryptocurrency: the stablecoin pax dollar (USDP) that is worth the same as the dollar (USD). This service was enabled on a pilot basis only in the United States and works through the wallet that Meta created and launched almost two months ago, Novi.

At ad, Novi reported that the tool is only available to a limited number of people in the United States, as its operation will be verified. Meta’s plan is then to expand the reach of the wallet globally internationally and add more cryptocurrencies.

At the moment, you only have the USDP stablecoin. Unlike other cryptocurrencies, this is a stablecoin that maintains a value of 1 to 1 against the dollar. That is, your goal is to keep the price at par with the dollar. It does not have volatility peaks, like bitcoin that tends to increase in value.

At the moment, money can only be sent via WhatsApp in the United States with the USDP stablecoin. Source: Twitter.

Meta, the company that owns Facebook, Instagram and WhatsApp, among other businesses, created the cryptocurrency wallet New in order to facilitate money transactions. As CriptoNoticias reported on the day of its launch, the wallet is mainly intended for those people who are outside the banking system or need to make transfers abroad.

Worldwide, around 1.7 billion adults do not have access to a bank account. Being excluded from the global financial system has real consequences for people’s lives, and it is often the most neglected people who pay the highest price. These are the challenges we hope to solve withNew, a digital wallet that helps people send and receive money abroad instantly, securely, and free of charge.

Novi, Meta’s cryptocurrency wallet.

David Marcus, one of the heads of the wallet, stated that linking Novi with WhatsApp is “another small step in the right direction”. This suggests that later they could enable their compatibility to send and receive money with cryptocurrencies also in other Meta applications, such as Instagram or Facebook Messenger.

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