Facebook will launch its digital wallet Novi and Diem later this year, users will be able to store cryptocurrencies
Facebook is all set to launch its digital wallet. Facebook’s digital wallet is named Novi, which can be launched later this year. Facebook has been working on this digital wallet for the last two years. This wallet will help users to store cryptocurrencies.
Cryptocurrency is very much discussed these days as experts believe that it is a capital of the future. It is a currency that you cannot touch but its value is very high. Facebook is also going to give its users a platform to store cryptocurrency. This information has been given by a senior Facebook official, David Marcus, while talking to the American media.
Diem will launch for Novi
David Marcus said that Facebook will launch Novi with Diem. Let us tell you that the Diem is a digital currency linked to the dollar, which Facebook is currently developing and is going to launch soon. Diem’s time was not fixed, however.
According to the report, as per the rules, it should happen that Facebook will launch the digital currency Diem before its digital wallet Novi. Regarding this, Marcus said that it will all depend on how long it is going to take for Diem to actually go live.
Announced in 2019
In 2019 Facebook said that it was planning to introduce a cryptocurrency, which Facebook at the time named Libra. However, this splendid project of the company faced a lot of safety and reliability concerns.
Last year in December 2020, Facebook changed the name of its cryptocurrency Libra to Diem and moved its project work from Switzerland to the United States as a strategic change.
