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Registered since December 31, 2021, NOVI is no longer registered according to the latest list published by the central bank last September.
The post Novi No Longer Included on BSP List of VASP Licensees appeared first on BitPinas.
Many startups are positioning themselves to take over various business sectors in the next decade. The juggernauts below, however, have all the features that will help them dominate their respective industries.
Continue reading The Next Billion Dollar Startups of 2022 at DailyCoin.com.
Although Meta Inc said it will end the Novi digital Wallet, the firm plans to continue executing its existing fintech goals to boost greater financial inclusion as it looks ahead to the metaverse. (Read More)
Facebook, whose subsidiary Novi has a VASP crypto exchange license in the Philippines, is launching Meta Pay.
The post Facebook to Launch Meta Pay, a Metaverse Wallet appeared first on BitPinas.
Yana Novikova is on a mission to solve complex problems before they actually become problems. In her seven years at Ripple, Yana has approached every challenge with the determination to find clarity in complexity by using her wealth of experience and industry knowledge. She started her career at Ripple as one of the first product […]
Read about the newest events in the crypto space.
After three years of trying it seems that Meta/Facebook is pulling its support from the Diem stablecoin project - looking to sell its stake.
Continue reading Meta Reportedly Shopping Its Share of Battered Stablecoin Diem at DailyCoin.com.
By Shiela Bertillo Mobile e-wallets Paymaya and Novi Philippines Inc. are now added to the list of firms licensed by
The post PayMaya and Facebook Novi Philippines Receive Virtual Currency Exchange License from the BSP appeared first on BitPinas.
Users from the crypto exchange will have the chance to win tickets to two tournaments and a meeting with Ajla Tomljanovic using a nonfungible token showing proof of attendance.
WhatsApp is getting into the payments game with a new pilot test for sending and receiving cryptocurrency in its mobile app.
(Read More)
Read Friday's breaking news in the daily digest.
David Marcus Announced He’s Leaving Meta’s Diem Project. But was there even going to be a Diem if he chose to stay? Covered: David Marcus Resigns Major Diem Turnover Major Shift For Meta David Marcus Resigns David Marcus, the head of the crypto division at Meta, formerly called Facebook, has resigned. What happened and what […]
The post Meta’s Head of Botched Crypto Project Resigns: What Happened appeared first on CryptosRus.
In explaining his decision to leave Meta, David Marcus said that his entrepreneurial DNA had been nudging him “for too many mornings in a row to continue ignoring.”
The pioneering social media giant, Facebook Inc, has rebranded its name to Meta as it seeks to foster the development of the metaverse, a term made famous by the current craze in the NFT ecosystem. (Read More)
Facebook has unveiled the Novi digital currency wallet pilot in the United States and the Central American nation of Guatemala on Oct 19. While the wallet is free of any charges (at this time), operates with KYC and primarily focused on remittances, the interesting part is that Facebook has retired its Diem cryptocurrency project in favor of the Ethereum based Paxos issued USDP stablecoin - an ERC 20 token with custody services being sourced from Coinbase. The limited rollout carries the "Move the money instantly with no fees" allows the user to send/receive and hold United States Dollars (USD) equivalent USDP stablecoin. It also offers the users to deposit and withdraw from / into their local currency.
https://twitter.com/novi/status/1450447507385950220There aren't many details available on how Facebook's Novi makes use of the Ethereum blockchain, but the general explanations are either Ethereum L2 usage or usage for only final settlements, while the rest of the time, only the internal ledger is updated. Facebook's Diem is a Libra rebrand to build a permissioned payment system on the blockchain. It appears that it has been shelved for the time being, because of the regulatory concerns
https://twitter.com/RyanSAdams/status/1450580346286878725Facebook's decision to use the Paxos's issued highly regulated stablecoin USDP and the Ethereum blockchain is not very surprising. The social media company has faced severe criticism and warnings of regulatory repercussions from several sections of the United States Government. Even after Novi's launch, several US lawmakers asked Facebook to halt the project saying it poses risks to financial stability, however it's unlikely that the existing regulations would have much impact on open source system's component that Facebook has sourced it's latest product from.
In a letter sent by US Senators Brian Schatz (D-HI), Sherrod Brown (D-OH), Elizabeth Warren (D-MA), Richard Blumenthal (D-CT) and Tina Smith (D-MN) on Oct 19. The senators remarked that "Facebook is once again pursuing digital currency plans on an aggressive timeline and has already launched a pilot for a payments infrastructure network, even though these plans are incompatible with the actual financial regulatory landscape".
They also expressed dissatisfaction on the Novi plans in the following words " Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient. We urge you to immediately discontinue your Novi pilot and to commit that you will not bring
Diem to market"
Diem is a project by Facebook, launched under the "banking the unbanked" initiative. It is designed around the same promises of faster transactions, lower fees, and making banking services available worldwide. The project was first called “Libra”, but was faced with too many obstacles from financial regulators. Facebook rebranded the whole Libra project to Diem, somewhere in the mid 2020.
It's a pseudo decentralized permission blockchain payment system with the aim of handling digital transactions. Facebook's vision for Diem includes allowing easy access to anyone with basic internet services, guaranteed price stability, less processing time, scalable interface and a walled ecosystem.
facebook novi wallet pilot usdp© Cryptoticker
The post Facebook Launches Novi Wallet Pilot With Ethereum Based USDP Stablecoin appeared first on CryptoTicker.
Facebook is almost complete with its cryptocurrency and digital wallet. U.S lawmakers term Facebook is incapable of maintaining cryptocurrency of
The post has appeared first on thenewscrypto.com
Facebook is launching Novi digital wallet. The social giant has hired Coinbase to serve as a custody partner. (Read More)
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