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Facebook renames its digital cryptocurrency wallet Novi

2020-05-26 15:44 by
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Facebook Inc. has renamed its blockchain division, called Calibra, to distance it from the Libra digital currency that Facebook created. The blockchain team is building a digital wallet for Facebook's apps, which will eventually hold the Libra digital currency, but Facebook won't control the coin.

By rebranding Calibra to Novi, Facebook is trying to make it super clear that the Libra project isn't a Facebook project per se. Facebook is just a member of the Libra Association with dozens of other members, such as Andreessen Horowitz, Coinbase, Iliad, Lyft, Shopify, Spotify, Uber, etc.

"Today, we're excited to introduce Noviā€”the new name and brand for the digital wallet that will help people send and hold Libra digital currencies," said Novi's head, David Marcus, in a company blog post earlier today. "While we've changed our name from Calibra, we haven't changed our long-term commitment to helping people around the world access affordable financial services."

Once Novi's digital wallet is launched, users will be able to send money as easily as they send a message, either via a dedicated app or through Facebook Messenger and WhatsApp.

Read more -here-

 

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