Meta shuts down Novi, the digital cryptocurrency wallet

Launched only as a pilot project in the United States and Guatemala, the digital wallet for cryptocurrencies novi won’t go any further: Meta has just confirmed that the crypto-wallet will be definitively stopped within the next few months. Novi will no longer be accessible from September 1, 2022, and from July 21, users will no longer be able to add money to their Novi wallet. They will also have to be careful to transfer their remaining Diem currencies (a crypto) to their bank account before September. After this date, Meta undertakes in all cases to return the sums forgotten in the wallets to the bank account linked to the Novi account.

Novi Meta

The lack of popularity of Novi, the regulatory concerns of Meta during the implementation of the wallet, and more generally the current difficulties of the social network are undoubtedly some of the reasons allowing to explain this abandonment in open country, 8 months after the announcement of the project. Meta promises, however, that Novi’s technologies will be reused in the metaverse… which we have no doubt about.

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