Facebook Intends to Launch Novi Wallet With Diem Crypto Network After Regulatory Approval

Facebook's logo connected a smartphone surface successful Moscow, Russia, connected Oct. 12, 2021. (Kirill Kudryavtsev/AFP via Getty Images)

Social media elephantine Facebook made an announcement astir 2 projects, 1 of which galore radical thought had been enactment connected clasp indefinitely.

What Happened

According to a Tuesday Cointelegraph report, a Facebook spokesperson confirmed the institution has not abandoned its plans to motorboat its Diem cryptocurrency web and intends to bash it alongside the Novi integer wallet it is present testing. In fact, the anonymous informed said: “We mean to motorboat Novi with Diem erstwhile it receives regulatory support and goes live.”

I bash privation to beryllium wide that our enactment for Diem hasn’t changed and we mean to motorboat Novi with Diem erstwhile it receives regulatory support and goes live. We attraction astir interoperability and we privation to bash it right. 5/8

— David Marcus (@davidmarcus) October 19, 2021

The quality follows a caller study that Facebook is looking to prosecute 10,000 radical successful the European Union arsenic portion of a futuristic bet. The steadfast plans to leverage the recently acquired workforce to make its imaginativeness of the metaverse, a integer realm wherever radical could stock experiences portion being acold isolated leveraging augmented world and virtual world devices. The company’s CEO Mark Zuckerberg has gone arsenic acold arsenic to accidental that helium expects “people volition modulation from seeing [Facebook] chiefly arsenic a societal media institution to seeing america arsenic a metaverse company.”

Facebook Price Action

Facebook is trading up 1.39 percent astatine $339.99 astatine marketplace adjacent Tuesday.

By Adrian Zmudzinski

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