Whatsapp's parent company Meta (Formerly Facebook) started a pilot for cryptocurrency wallet Novi between the US and Guatemala in October. The social media giant has made this claim even bigger and is integrating its Novi wallet into WhatsApp.
Thanks to this service, which has been tested with a limited number of users in the USA for now, Whatsapp users will be able to transfer crypto money to their contacts through Novi wallet for free.
Novi co-founder David Marcus had previously announced plans to integrate the Novi wallet into all of Meta's subsidiaries.
It is estimated that once the process of sending crypto money via Whatsapp becomes widespread, transactions will be made as easy as sending messages, thus further enlarging the crypto money ecosystem.
Obtaining Novi Wallet is Required
When Whatsapp users log in to the plugin section within the application, they will be able to easily send by following the instructions by connecting to their Novi wallets via a payment tab. In order to send crypto money via Whatsapp, users will need to obtain a Novi wallet.
Novi President Stephane Kasriel said in a statement on Twitter that users can send funds to their friends instantly, securely and free of charge, and that these posts will appear in chats.
Sending money via Whatsapp, which is currently in the pilot phase, will be carried out over the stable cryptocurrency Paxos Dollar (USDP), which is fixed to the dollar.
It was decided to use the stable crypto currency Paxos Dollar (USDP) backed by the US dollar for Novi, the project's crypto wallet. It is known that Whatsapp has approximately 2 billion active users as of October. Accordingly, if Meta can move from pilot implementation to general use, it may have the potential to re-grow its use plan globally.