Novi from Meta

Sending money should always have been as easy as sending messages. This is now possible with Novi integration with WhatsApp.

Back in October, Facebook (now Meta) launched a small pilot test of its cryptocurrency wallet Novi in the US and Guatemala. Pilot testers have been able to send each other personal payments through the service since then. Now, the company has announced that a limited number of people in the US will also be able to send and receive Novi payments from within WhatsApp.

Novi co-founder @DavidMarcus, previously said that Meta will roll out Novi payments to all of its subsidiaries, namely Facebook, Instagram, and WhatsApp.

Is this the next big move by Facebook? Just found out: Novi was earlier called Calibra??!! (https://www.producthunt.com/post...)

To put Novi's potential for network effect-led growth in SE Asia context:

"Southeast Asia has a sizable unbanked population, primarily found in Indonesia, the Philippines, and Vietnam. Of the estimated 1.7 billion unbanked people today, 290 million live in the region. This is another contributing factor behind the high P2P uptake, certainly, it’s why Facebook’s crypto wallet Novi is predicted to have a high uptake in the region.

"In the Philippines for example, 71 per cent of adults do not have a bank account, according to a 2019 report by the country’s central bank. And unlike the US where younger users have failed to drive Facebook adoption, in the Philippines, almost 33 per cent of the users are aged 18 to 24. This user profile is supported by figures from Metamask, with Filipinos making up a fifth of its ten million active monthly users - driven by the success of the NFT-based game Axie Infinity which allows people to earn by playing."

Source: https://e.theleader.vn/the-rise-...