Mon. Dec 6th, 2021


Facebook is finally testing Novi, the digital wallet is teasing more than that Two years. David Marcus, Facebook’s head of payments Announced That company Getting started “A Little Pilot” from the United States and Guatemala’s Novi aims to enable family members to send remittances across the border.

“We’re a pilot to test our performance in key feature functions and customer care and compliance,” Marcus writes. “We are also optimistic that it will showcase a new stable use case (as a payment instrument) that is commonly used today.”

Novi is finally launching, even in a limited way, it would seem like an important step for Facebook Long troublesome Crypto planning. However, the company is launching a wallet without dime, its planned cryptocurrency (formerly called cotton) that faced a wave of pushback From lawmakers and regulators around the world.

Instead, the initial pilot will use Pax Dollar (USDP), a stable coin that Marcus said has “been operating successfully for more than three years and has important regulatory and consumer protection features.” He added that during the pilot, Facebook partnered with Coinbase.

The pilot’s news has already sparked renewed criticism of lawmakers. On Tuesday, just hours after Marcus’s initial announcement, a group of five Democratic senators Sent a letter The company has been told by Facebook to “shut down your Novi pilot immediately and promise that you will not bring Dime to market.” The letter cites a recent Facebook release The leaker, And the company’s “constant pursuit of profit at the expense of its users.”

The senators wrote, “Considering the scope of scandals surrounding your company, we write our strong opposition to Facebook’s revived efforts to introduce cryptocurrency and digital wallets, now known as ‘Dime’ and ‘Novi’, respectively.” Management cannot be trusted when its existing ability to manage risks and keep consumers safe is proven to be completely inadequate. “

A spokesman for Navir said “we are awaiting a response to the committee’s letter,” but did not elaborate. In his initial announcement, Marcus said the company was committed to launching Dime. “I want to make it clear that our support for Dime has not changed and we want to launch Novi with Dame once it gets regulatory approval and goes live.”

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