Facebook presents Novi, digital wallet for the new digital currency Libra (ex Calibra)
Facebook presented Novi; the new name and brand for the digital wallet that will help people send and manage digital currency Libra, a new payment system based on blockchain technology. At presentation last year, this digital wallet was called 'Calibra'.
With Novi, sending money will be as easy as sending a message.
Users will be able to use Novi as a standalone app, as well as in Messenger and WhatsApp. There will be no hidden costs for adding, sending, receiving or withdrawing money and transfers will be instantaneous.
All Novi customers will have to verify their identity using an identity document issued by the government and anti-fraud protections will be integrated into all apps. If you need help, users will have 24/7 access to the support team via chat.
Facebook has planned the introduction of a beta version of Novi; when the Libra network will be available, first in an initial series of countries, with features that will make cross-border money transfers instant, safe and without hidden costs.
Speaking of Novi, this is the first product that will introduce Novi Financial; a Facebook subsidiary that operates independently of Facebook and is based in Menlo Park, California. It was founded with the mission of "Make money work better for everyone" according to the official description. "We believe that everyone in the world should have equal access to financial services".
