Launched for testing in October, Novi allows users to send and receive money using the Pax Dollar cryptocurrency.
As for the new feature in “WhatsApp”, it allows sending money as an attachment in the chat immediately, according to the British newspaper, “Daily Mail”.
According to the reports, there are no fees for sending or receiving money with the new feature, as well as no restrictions on the number of times that money can be sent, and no fees for maintaining a balance in your Novi account, or transferring from it to the bank account.
Novi currently provides its WhatsApp-related service in the United States, and says it will later focus on helping the 1.7 billion adults who do not have a bank account.
A press release issued by “Novi” stated that “excluding anyone from the global financial system has consequences for people’s lives, as such people often pay a higher price for what they receive or send in remittances to their families.”
Observers and experts in the field of technology consider that Novi is a big and important step by Meta to integrate cryptocurrencies into its platforms.
In June 2019, Meta, which was Facebook, revealed its plans for its own digital currency, Libra, which will be integrated into the company’s own digital wallet, Calibra.
At the time, the company was criticized by experts who said that the launch of such a currency would be used for the purpose of spying on what users were buying, thus flooding them with more targeted ads.