New Delhi: Meta’s money-transfer service that uses the company’s own cryptocurrency digital wallet ‘Novi Pilot’ is shutting down on September 1. Well, now it’s definitely one of the biggest tech companies in the world, which is clearly feeling the impact. Crypto Crash too! Meta launched Novi in 2021. Users have been given until 1 September to receive their information and their remaining crypto balance from the site.
According to The Verge, users will lose access to their accounts in September, and will no longer be able to add money to Novi starting July 21. If someone forgets to withdraw their balance, Meta says it will “attempt to transfer” their funds to a bank account or debit card added to the service. (Also Read: PNB Raises Interest Rates On Fixed Deposits From July 4: Details Here)
The company announced on its website that both the Novi app and Novi will no longer be available on WhatsApp. (Also Read: Infosys, TCS, Other IT Companies Continue WFH For Now; Know About Future Plans)
Novi was supposed to be a secure way for people to send and receive crypto, and at one point it was supposed to work with Diem. However, the collaboration did not materialize as Diem collapsed in February of this year.
According to The Verge, last month, Meta CEO Mark Zuckerberg also hinted at creating a digital wallet that will help you “manage and store digital clothing, art, videos, music, experiences, virtual events and more.” could.”
The wallet will be interoperable across different Metaverse experiences, reflecting the goals of the Metaverse Standards Forum that Meta and a group of other companies helped form, which calls for industry-wide standards in virtual reality and augmented reality experiences.