Facebook is all set to launch the digital wallet, Novi . The wallet would allow users tostore cryptocurrencies, a senior company executive has mentioned.
David Marcus, head of Facebook´s crypto unit, in an interview stated that company leaders “feel pretty committed” to bring out the digital wallet namely Novi this year.
Marcus stated he would have desired to release Novi with Diem, a digital currency associated with the dollar that the company is also working on, but Diem´s timing was tentative.
“In theory, Novi could launch before Diem, but it would mean launching without Diem and that´s not necessarily something that we want to do,” Marcus mentioned
“It all depends on how long itis going to take for Diem to actually go live and that is not something I am personally looking after.”
In 2019 Facebook said might be launching a cryptocurrency that at the time was called Libra. The project on the other hand faced regulatory resistance over issues about security and reliability.
In December 2020 the Libra altered its name to Diem and was transferred the operations from Switzerland to the United States being a step of a “strategic shift.”
