Facebook is renaming Calibra, the digital wallet it hopes will one day be used to access the Libra digital currencies, Novi. In a blog post the company said that the new name was inspired by the Latin words “novus” and “via,” which mean “new” and “way,” respectively. Novi Financial is the new name of the Facebook subsidiary that will develop the company’s digital wallet.
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With Novi, sending money will be as easy as sending a message. You’ll be able to use Novi as a stand-alone app, as well as in Messenger and WhatsApp. There will be no hidden charges to add, send, receive or withdraw money and your transfers will arrive instantly. All Novi customers will be verified using government-issued ID, and fraud protections will be built in throughout the app.
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And, whenever you need it, you’ll have 24/7 access to our chat-based support and customer care team.
NOVI WILL BE A STANDALONE APP, BUT IT WILL ALSO INTEGRATE WITH WHATSAPP AND MESSENGER
Our hope is to introduce an early version of Novi when the Libra network is available. We’ll roll it out in an initial set of countries, with features that will make cross-border money transfers instant, secure, and with no hidden fees. If you’d like to be one of the first to know when Novi becomes available in your country, sign up for updates at Novi.com.
About Novi
Novi Financial was founded with the mission of making money work better for everyone. We believe that all people around the world should have equal access to financial services. The first product Novi Financial will introduce is the Novi digital wallet designed for Libra, a new payment system which is built on innovative blockchain technology. Novi Financial is a subsidiary of Facebook that operates independently from Facebook, and is headquartered in Menlo Park, California.
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This announcement contains forward-looking statements regarding our future product, business plans and expectations. These forward looking statements may differ materially from actual results due to a variety of factors and uncertainties, many of which are beyond our control. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.