A limited number of citizens of the United States of America (USA) will be able to send and receive money on WhatsApp using the cryptocurrency wallet called Novi, Stephan Kasriel, the VP of Product at Novi announced. Novi is a cryptocurrency wallet developed by Meta, formerly Facebook. When someone adds money to their Novi account through WhatsApp, it will be converted to USDP (Pax Dollar), which is a stable digital currency issued by Paxos Trust Company, a regulated financial institution in the USA. "USDP is designed to have a stable value relative to the US dollar. So on Novi, 1 USDP is equal to 1 US dollar," Novi's website said. https://twitter.com/skasriel/status/1468722866716016643 This is an important development considering India is one of WhatsApp's largest markets. Its timing is also interesting since a bill that will possibly regulate the usage of cryptocurrency and also introduce India's central bank-backed digital currency is likely to be scheduled in the country's Parliament during the ongoing Winter Session. Using Novi doesn't change the privacy of WhatsApp personal messages: Kasriel Novi encrypts your sensitive financial information and the documents you upload, like your photo ID. Using Novi does not change the privacy of your WhatsApp personal messages and calls, which are always end-to-end encrypted -- Novi in its website The cryptocurrency wallet also said that it has embedded controls that enable 24/7 monitoring to detect and flag "suspicious" activity. "If we determine a transaction is unauthorized, we will provide a full refund back to your Novi balance,"…
WhatsApp now allows payments using crypto for select users…well sort of
The cryptocurrency wallet also said that it has embedded controls that enable 24/7 monitoring to detect and flag “suspicious” activity.
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