THECRYPTO.WATCH – Facebook launched digital wallet that allows its users to store cryptocurrencies. This digital wallet is called “Novi”. Unfortunately, Novi didn’t launch with Diem, which is the digital currency developed by Facebook.
According to Marcus, who is Facebook’s head of payments, he still maintains that support for Diem has not changed. They will then launch Novi together with Diem after receiving regulatory approval.
In 2019, Facebook plans to introduce a digital currency called “Libra”. However, the process encountered obstacles because it had to face various kinds of regulations. Finally, in late 2020, Facebook changed its name to Diem and moved its operations from Switzerland to America. The presence of Libra will definitely enliven the existing cryptocurrency market.
When it was first introduced, Libra was predicted to be a new currency that was closely related to fiat currencies and securities. In fact, initially Libra was not only based on one currency, but also a combination of various currencies.
