Meta Cryptocurrency Wallet is closed

Advertising

Meta is closing Novi, its short-lived digital wallet for cryptocurrency. In a spot I spotted The company announced that it will end the platform on September 1, with July 20 as the last day to add funds. Meta advised users to withdraw their balance “as soon as possible,” noting that it would “try to transfer” any money left in customer bank accounts and debit cards after Novi’s last business day.

For now, the shutdown effectively marks the end of Meta’s crypto-related ambitions. Nove company last October. The wallet was launched without support for Diem – the internal cryptocurrency Meta, which was previously known as. A month later, David Marcus, the company’s head of cryptocurrency,. In early 2022, Diem Association announced that it was in the process of ending its operations.

Advertising

But the disappearance of Novi and Diem does not mean that Meta will not create another digital wallet. “We are already building on years of building Meta capabilities across the blockchain and introducing new products, such as digital collectibles,” a company spokesperson said. Bloomberg. “You can expect to see more of us in the Web3 space, because we are very optimistic about the value these technologies can bring to individuals and businesses across the metaverse.”

In fact, the company announced last month that it was. At the time, Mark Zuckerberg described the change as a “first step” toward creating a digital wallet for Metaverse. The CEO said he envisions a future where Meta Pay will serve as a place to store all the digital items you buy or create in virtual worlds.

All products recommended by Engadget are handpicked by our editorial team, independently of the parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

See also  Google Cloud launches carbon footprint tracker for environmental analysis | Technique

LEAVE A REPLY

Please enter your comment!
Please enter your name here