Blockzeit
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
Buy Crypto
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home Technology
whatsapp adds support for novi cryptowallet

whatsapp adds support for novi cryptowallet

Meta is Piloting Novi Crypto Project via WhatsApp in the U.S.

Tom Nyarunda by Tom Nyarunda
December 10, 2021
in Technology
Reading Time: 3 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

WhatsApp is testing cryptocurrency payments on its platform. Some users can now send and receive money through Novi, a cryptocurrency digital wallet.

WhatsApp has launched a pilot program for its troubled cryptocurrency payments in the United States with the help of the Novi digital wallet. The development comes a little over a week following the announcement by the company’s top executive David Marcus that he would be leaving at the end of December. 

There's a new way to try the @Novi digital wallet. Starting today, a limited number of people in the US will be able to send and receive money using Novi on @WhatsApp, making sending money to family and friends as easy as sending a message. 💸💬 pic.twitter.com/dGz3lejri7

— Stephane Kasriel (@skasriel) December 8, 2021

Novi’s incoming head Stephane Kasriel said the digital wallet launched on pilot six weeks ago would enable payments via Pax Dollars (USDP), a Stablecoin issued by Paxos, and that’s pegged on the U.S. dollar. As per the announcement, the pilot will let a limited number of people send and receive money within a chat. Talking about the initiative, Kasriel stated: 

“We’re still very early in the Novi pilot journey, so we made the decision to test this new entry point in one country to start and will look to extend it once we’ve heard from people what they think of this new experience.”

How it works

To send money on WhatsApp using Novi, users will have to select the paper clip app on Android or the ‘+’ button on iOS and select ‘Payment’ from the menu. After that, they’ll need to follow the on-screen instructions to log into your account. Money added to a Novi account is converted to Pax Dollar (USDP), which it describes as a regulated and stable digital currency.

Remittances are vital for developing countries

Sending and receiving money would be a critical use case for Novi. It would enable users, especially those in developing countries, to send remittances to people back home from the diaspora. Remittances are vital for developing countries like India, with people working in the West transferring more funds through remittance than anyone else in the world.

Fuel its eCommerce push

That’s where Meta would genuinely love to see its Novi process gain traction, which would help boost the utility and value of WhatsApp, the most used messaging app in India, at 487 million local users. That would also fuel its eCommerce push once users are transferring funds in the app, making it much easier to get them to buy products or pay for services in-stream.

The Indian Government is still firmly against cryptocurrency. Meta will be hoping that this initial trial will better showcase the potential value of the system, which could then help it convince regulators in other markets to let it launch Novi there as well.

1a49ddd7 d169 48a0 a252 3fc3a2ad01bb 1
Tom Nyarunda

Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.

Previous Post

Metaverse Showdown: The Sandbox vs Decentraland

Next Post

SolidProof Introduces KYC and Audit Services for DeFi projects

Related Posts

Image source: Pixabay

The Dangers Of Sticking To Web2: Why Embracing Web3 Is Crucial For Business Survival

by Rickie Sanchez
March 15, 2023
0

This article explores the potential consequences for Web 2.0 companies that may fail to embrace Web 3.0. The internet as...

Oi Network

Oi! Network: Earning Crypto With Twitter? A Guide on Earning Income with Web3

by blockzeit
March 14, 2023
0

Although the hype surrounding GameFi has died down, Interest in X to Earn Introduced by GameFi has remained strong.  Allowing...

images 2023 03 06T134450.192

A Breakdown Of The Revolutionary Internet Computer Protocol

by Ken Emmanuel
March 9, 2023
0

The Internet Computer Protocol (ICP) is a decentralized blockchain platform that aims to enable the creation of decentralized applications (dApps)...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

SAVE 20% ON BINANCE FEES

Sign Up Here
No Result
View All Result
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.