WhatsApp Tests New Crypto Payment Feature

There’s a new way to try the @Novi digital wallet. Starting today, a limited number of people in the US will be able to send and receive money using Novi on @WhatsApp, making sending money to family and friends as easy as sending a message. pic.twitter.com/dGz3lejri7— Stephane Kasriel (@skasriel) December 8, 2021

Social media giant, WhatsApp, which is backed by Meta (formerly known as Facebook) just announced through Novi’s incoming head Stephane Kasriel and WhatsApp’s Will Cathcart, that it is launching a limited testing trial of a new feature that will allow users to make cryptocurrency payments without paying fees. The feature is sponsored by Novi, Meta’s digital wallet that was launched a couple six weeks ago, with payments made using Pax Dollars (USDP), a stablecoin pegged to the US dollar issued by Paxos.

New in the US: use your @Novi digital wallet to send and receive money right within a @WhatsApp chat. People use WA to coordinate sending money to loved ones, and now Novi will help them do that securely, instantly and with no fees. https://t.co/4wG4t8zwKh

The USDP is designed as a stablecoin (linked to the value of USD) as a way to avoid the kind of price volatility associated with Bitcoin, Ethereum or other cryptocurrencies. 1 USDP = 1 USD. Users can add money to their Novi account via the free app, which automatically converts them to Pax. 

“People use WhatsApp to coordinate sending money to loved ones and now Novi will help them do that securely, instantly and with no fees.”

–Cathcart.

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