WhatsApp: is Novi coming and the revolution of payments?

A bit like what happens on WeChat in China, WhatsApp will soon have a proprietary method for allowing users to exchange money with each other.

How many of you remember Libra? It was the Facebook crypto. The project never really took off and, amid a thousand problems, in the end it was forgotten a little by everyone.

Now Meta is ready to launch a new version of the project called Novi. Novi will simply be the name of the wallet that will support the Pax Dollar: a stablecoin obtained thanks to a direct collaboration with Coinbase. Meta has consciously decided to integrate a single stablecoin into its wallet considering the project open to users even less accustomed to this world. With the Pax Dollar, users can convert your current money in a simple, fast and direct way, never losing sight of the real value of the converted money. The wallet will support other crypto more traditional and will support the Diem at launch. There is no information yet on the launch of this crypto.

To use the platform users will need verify your identity thus avoiding any scams as much as possible. The process should be very simple – the platform will likely ask you to upload a copy of yours identity document as well as a selfie.

They are not yet clear i launch times of Novi, but what is certain is that at the moment the project is still under development as can be seen from the lines of code extrapolated from the latest beta versions of WhatsApp for Android.

One thing is certain: when the project goes through, the exchanges of money between friends, relatives and businesses will certainly be simplified and much more direct than today. Will we say goodbye to PayPal and other similar services for instant money exchange between our closest contacts?

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