Meta’s Novi crypto wallet is about to stop working

Meta is shutting down Novi, its short-lived cryptocurrency digital wallet. In one Discovered , the company announced that it will be decommissioning the platform on September 1, with July 20 being the last day to add funds. Meta advises users to withdraw their balances “as soon as possible,” noting that it will “try to transfer” any remaining funds to customers’ bank accounts and debit cards after the active date. Novi’s last.

For now, the closure really marks the end of Meta’s crypto ambitions. Company by Novi last October. Wallet launched without support for Diem – Meta’s internal cryptocurrency, formerly known as . A month later, David Marcus, the company’s chief crypto officer, . At the beginning of 2022, the Fringe Association announced that and “downshift” operation.

But the departure of Novi and Diem does not mean that Meta will not create another digital wallet. “We have taken advantage of the years spent building capabilities for Total Meta on the blockchain and introducing new products, such as digital collectibles,” a company spokesperson said. Bloomberg. “You can expect to see more from us in the web3 space because we are optimistic about the value these technologies can bring to people and businesses in the metaverse.”

In fact, the company announced last month that . At the time, Mark Zuckerberg called the change the “first step” to creating a digital wallet for the metaverse. The CEO said he envisioned a future where Meta Pay would act as a storehouse for all the digital items you buy or create in the virtual world.

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