Meta Rolls Out Digital Payments on Novi Wallet amid Regulatory Concerns

Meta Rolls Out Digital Payments

Meta’s Messaging platform, WhatsApp, has begun testing digital currency transactions through its Novi Wallet despite opposition from the regulators.

The company’s head of cryptocurrency and fintech, Stephane Kasriel, says that the new platform can be accessed by a few people in the US. The platform enables users to send and receive funds on Whatsapp with no charges.

The Social media giant says it began the Novi pilot phase in October and maintains that they are fully informed on its important features. Meta adds that the use of Novi wallet would not tamper with privacy on WhatsApp messages and calls.

The move comes as Open Markets Institute, a non-profit organization, writes to the regulators that the Meta could be running an illegal business.

Meta, which rebranded from Facebook, launched the digital currency pilot in partnership with Coinbase and Paxos in October. The initial phase was rolled out in Guatemala and the US.  

Source: Twitter

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