Meta is ready to introduce crypto payments via its social chatting platform Whatsapp using the newly rebranded Facebook’s Novi cryptocurrency wallet. Although the social media giant has already started experimenting on this.
Stephen Kasriel, NOVI’s chief, reportedly announced on Twitter that the pilot program would run for about six weeks, with a selective group of people testing the features and services of Whatsapp payments.
“Since we introduced Novi Pilot six weeks ago, we have been able to test and learn what are the most important features and functions for individuals and thus further work and focus on making them even better.”
This can be noted as Meta’s first major step towards expanding its digital wallet footprint after its recent rebranding. Facebook’s crypto aspirations began back in 2019 with the announcement of their Universal StableCoin project Libra. However, the crypto venture failed to initialize its launch the reason being encountering several regulatory hurdles and eventually had to close.
Although Facebook has not completely abandoned its crypto plans and is now aiming to make an impact on the innovative Metaverse ecosystem through rebranding. Novi Wallet, which plays a key role in payment plans, has now been already developed and in the testing phase by them.
While It’s too late for the crypto payment industry that has been trying to get in for a long time. However, this was not its first entry into the digital payment field and, as before, it briefly introduced the Messenger payment field, but failed to obtain it and was immediately shut down.
Although Whatsapp’s new crypto payment initiative is paving the way for Meta in the digital payment field, Whatsapp is one of the most popular social chat services worldwide with over a billion users.