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.
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