Novi, Facebook’s digital wallet, is already being piloted in the USA and Guatemala. Coinbase, a cryptocurrency exchange platform, will serve as the custody partner.
You can find the new wallet on Google Play and in the Apple App Store. The app will hold Novi’s own cryptocurrency Diem and other stablecoins. Diem, previously called Libra, is a stablecoin project from Facebook itself.
Senators calls for closing wallets
Just a few hours after the launch, a group of five senators (Tina Smith, Richard Blumenthal, Chairperson Sherrod Brown and Elizabeth Warren) called for the immediate closure of cryptocurrency and a cancelling of the entire project. They referred to the scandals surrounding Facebook and claimed that Facebook cannot be trusted even to administrate digital currencies.
Not skimping on job opportunitiesFacebook, however, has much bigger ambitions than administrating a payment system. They revealed a plan to create 10,000 (!) skilled jobs in the European Union. This is slated to take place during the next five years while Facebooks builds its own metaverse. In lay terms, a metaverse is a virtual universe in which people can “live”.