- Facebook starts testing Novi wallet.
- Coinbase acted as the stablecoin custodian partner.
- Withdrawstablecoin to a third-party wallet will not work.
Social media giant Facebook has begun a test rollout of its Novi digital wallet in the US and Guatemala, according to the company's official announcement.
According to the head of the blockchain department of Facebook David Markus, the goal of the pilot project is to test the key functions of the wallet in real conditions.
«Money transfers are the most important wayachieving financial inclusion. Today we are launching a small pilot version of the @Novi digital wallet application in two countries - the USA and Guatemala. Now people can send and receive money instantly, securely and without commission.
Initially, the wallet will supportexclusively stablecoin Pax Dollar (USDP). The custody division of the Coinbase crypto exchange, Coinbase Custody, is responsible for storing the token. You can register in a wallet only after passing KYC verification.
It is also reported that withdrawing USDP to a third partythe wallet will not work. When cashing out the stablecoin, users will be able to choose their local currency. What role a stablecoin plays in the absence of actual transfers within the blockchain remains unknown.
Novi also stated that they are not abandoningplans to create its own stablecoin - Diem. The company plans to add the wallet to the Diem ecosystem once the stablecoin receives regulatory approval.
Earlier it became known that the developersNovi left Facebook for a senior management role at Andreessen Horowitz (a16z). The reasons for leaving are not disclosed. In the new positions, Facebook natives will advise a16z on investments in cryptocurrency/blockchain startups.
Novi is expected to receive support in the futurenon-fungible tokens (NFTs). The head of Facebook Financial, David Marcus, stated this in an interview with Bloomberg. He noted that the company is considering “several options” for providing its services in the cryptocurrency market. However, it remains unknown why, even as part of pilot testing, Novi is testing transfers in a stablecoin, and not in a cryptocurrency such as Bitcoin.
Where is it more profitable to buy bitcoin? TOP-5 exchanges
For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.
The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
Rating of cryptocurrency exchanges:
| # | Exchange: | Website: | Rating: |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | Huobi | https://huobi.com | 7.4 |
| 3 | Exmo | https://exmo.me | 6.9 |
| 4 | OKEx | https://okex.com | 6.5 |
| 5 | Bybit | https://bybit.com | 6.3 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Additional features and services— futures, options, staking, NFT marketplace.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- final grade– the average number of points for all indicators determines the place in the ranking.
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