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Mark Zuckerberg's company Meta (formerly Facebook) Due to numerous problems, including with regulators, it decided to stop supporting its own crypto wallet.
On the official website of the Novi wallet appearedmessage that the wallet "will no longer be available for use after September 1st." The Novi team warns users to withdraw all their assets stored on the platform before this date, as they will then be unavailable.
Several Meta executivesput forward the idea of creating a wallet in 2019. It was to be called Libra and used to support a single global digital currency (similar to a stablecoin). Given Meta's problems with regulatory authorities, the plan almost immediately came under increased scrutiny from multiple regulatory agencies.
This led to many changes to the originalplans, including rebranding Libra as Novi last October. The team, inspired by the Latin words novus (new) and via (path), defended the new name to management. Novi is a beta wallet in partnership with exchange Coinbase that serves as an asset custodian and allows users to send money “as easily as messages.”
In addition to launching the beta version of Novi, developersThey promised a stablecoin called Diem. However, the project was not completed. Several former developers decided to relaunch it under the name Aptos and have already raised $200 million to create the blockchain.
In return for the Novi crypto project, Mark's companyZuckerberg decided to launch a wallet for the Meta Pay metaverse. The new wallet is a rebrand of the existing Facebook Pay system, retaining previous features and adding new ones focused on the metaverse.
