Desk Report
Publish: 26 Aug 2021, 04:08 pm
Cryptocurrency || Photo: Collected
Facebook is ready to launch a digital wallet that would let
users store cryptocurrencies, a senior company executive said in a US media
interview Wednesday.
David Marcus, head of Facebook's crypto unit, told The information news site that company leaders "feel pretty committed" to
launch the digital wallet called Novi this year.
Marcus said he would have preferred to release Novi
alongside Diem, a digital currency tied to the dollar that the company is also
developing, but Diem's timing was uncertain.
"In theory, Novi could launch before Diem, but it would
mean launching without Diem and that's not necessarily something that we want
to do," Marcus told The Information.
"It all depends on how long it's going to take for Diem
to actually go live and that's not something I'm personally looking
after."
In 2019 Facebook said it plans to introduce a cryptocurrency
that at the time was called Libra. The project however faced regulatory
resistance over concerns about security and reliability.
In December 2020 the Libra changed its name to Diem and
moved its operations from Switzerland to the United States as part of a
"strategic shift."
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Topic : Facebook Digital Wallet
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