Users in the United States may now send and receive money over WhatsApp using Meta Platforms’ (previously Facebook’s) bitcoin wallet, Novi. A limited number of people are participating in a trial program for Novi wallet’s new functionality.
@Novi digital wallet may now be tested in a different method. Today, Novi will allow a limited number of people in the United States to pay and receive money using Novi on WhatsApp, making it as simple as sending a message to relatives and friends.
To send money to friends and family safely, quickly, and for free, Kasriel posted a series of tweets about Novi. In addition, he added that utilizing Novi will not compromise WhatsApp’s end-to-end encryption of personal messages and calls.
Six weeks after launching the Novi trial, we’ve already learned which features and functionalities users value the most, allowing us to concentrate our efforts on improving those. In several cases, we’ve heard of individuals using WhatsApp to plan money transfers to loved ones, and Novi makes it possible for them to do so safely, quickly, and without incurring any charges. Kasriel tweeted, “Payments will display straight in people’s chats.
To begin, we decided to test this new way of entering the Novi pilot in one nation and will aim to expand it after hearing from people about their thoughts on the new experience. Using Novi does not affect WhatsApp’s end-to-end encryption of personal messages and calls,” he said.
How Novi Moves Money
In accordance with Novi’s official website, when a user adds money to their Novi account, the money is transformed into USDP (Pax Dollar), a stable digital currency issued by Paxos Trust Company.
- It is the goal of the USDP to maintain a constant value against the US dollar. The website explains, “So on Novi, 1 USDP equals 1 US dollar.
- Money is possible for customers to preserve their Novi account balance or transfer it to a bank account safely.
- Paxos Trust Company is a financial firm that is subject to strict regulations.
Many months have passed since the wallet app was said to be under development by Meta Platforms. For regulatory reasons, it has halted its global rollout of the Diem digital money.
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