Meta is shutting down its Novi digital cryptocurrency wallet. It was previously known under the name Calibra . From July 20, the company will stop adding funds to wallets, and on September 1, the platform will be completely closed.
Meta recommends that users withdraw available funds from balances “as soon as possible”. It also notes that the company will “attempt to transfer” any remaining money to customers’ bank accounts and debit cards after Novi shuts down.
The shutdown of Novi effectively marks the end of Meta’s cryptocurrency ambitions. Last October, the company launched a “small pilot project” with Novi, but without the support of its own Diem cryptocurrency (formerly known as Libra ). A month later, the head of cryptocurrency at Meta, David Markus, left the company. In early 2022, the Diem Association announced the sale of its assets and the “folding” of operations.
But the demise of Novi and Diem doesn’t mean that Meta is completely abandoning the idea of having its own digital wallet. Mark Zuckerberg recently introduced Meta Pay, a digital wallet for the metaverse.
Zuckerberg Introduces Meta Pay, a Digital Wallet for the Metaverse
Source: Engadget
