.Meta’s Libra stablecoin experiment is all but over. The social media company plans to shutter Novi, its digital wallet payments pilot, on Sept. 1.
experiment three years after the company then known as Facebook unveiled its ambitious but ultimately doomed crypto payments gamble., texting users a link to the announcement that urged users to withdraw their money from the platform “as soon as possible.” Beginning July 21, users will lose the ability to add money to their accounts. Novi’s WhatsApp account and the Novi app will also become unavailable. Once the pilot ends, users will not have access to their transaction history and other data.
Novi, originally known as Calibra, had been Meta’s wallet for its libra stablecoin revealed in June 2019. Its role shifted asforced the stablecoin project to change course. Novi became a money-transfer pilot for crypto-based remittances in 2020 – but it never got beyond the U.S. and Guatemala. Although Meta decided to kill the Novi pilot, the company said it has plans to repurpose the technology for future products, including its metaverse initiative.
“We are already leveraging the years spent on building capabilities for Meta overall on blockchain and introducing new products, such as digital collectibles,” Meta said in an emailed statement. “You can expect to see more from us in the Web3 space because we are very optimistic about the value these technologies can bring to people and businesses in the metaverse.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Meta to close down Novi crypto payments wallet in SeptemberMeta urged users to withdraw any remaining balances from their Novi accounts before September 1.
Consulte Mais informação »
Meta hints at 'self-selection' as layoffs ramp upLeaked audio of a staff meeting yesterday inside Meta reveals the company has cut plans to hire engineers by at least 30% this year, while raising the bar for existing employees, according to Reuters.
Consulte Mais informação »
Stocks making the biggest moves midday: Micron, Kohl's, Meta Platforms and moreThese are the stocks posting the largest moves in midday trading.
Consulte Mais informação »
Meta Feels the Downturn Burn, Slashes Hiring by 30%In a leaked employee Q&A, Mark Zuckerberg outlined plans to bring on far fewer engineers and 'turn up the heat' on existing staff.
Consulte Mais informação »
Meta Was Restricting Abortion Content All AlongAbortion access groups and activists say they have been dealing with algorithmic censorship for years.
Consulte Mais informação »