November 27, 2021

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Facebook USA and Guatemala – IT Pro – News begins testing Novi Wallet and Paxos Staple Coin

Facebook launched a small pilot for Novi Wallet on Tuesday. Within the pilot, users in the US and Guatemala can send money to each other. Novi was formerly known as Calibra and now uses a staple coin from Paxos.

With testing Wants to investigate Facebook Whether the technology works and is suitable for customers. For the pilot, the company has partnered with Paxos and Coinbase. Users can convert dollars into staple coin USDP or box dollars. It is linked to the US dollar and users in Guatemala can switch back to Guatemala Quetzal. They can send this money to their bank account or withdraw cash.

The Novi processor can be downloaded from the Apple App Store and Google Play. Facebook talks about the low number of users and the waiting list; It is unknown how many users are currently allowed. Users need to upload their ID card before sending or receiving money. There is no charge for the service, Facebook says.

Facebook Revealed two years ago Libra payment method and calibra service. Initially, the service should have appeared in 2020. Libra is a payment system based on Libra Open Source Blockchain, which has partnered with Facebook Visa, PayPal and eBay. Calibra was the wallet.

Libra and Caliph have received criticism from many companies and governments, Including the European Union. Due to this criticism, many partners backed out, followed by Facebook Fixed plans. For example, the platform will support multiple staple coins for different currencies. In addition, Facebook has changed Caliph’s name for Novi.

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Meanwhile, Libra has also changed its name to Time. Facebook says it still believes in evil, but in the absence of government support, Facebook has not yet used the payment method. However, once this approval is obtained, Novi must switch to Diem. Facebook did not provide any data on this; It is also unclear when Novi will be widely available.