Facebook soon to launch a digital wallet called Novi to store crypto currency.
David Marcus, head of Facebook’s crypto unit, said the company’s leaders felt quite ready to launch Novi this year.
Novi Will Be Released with Diem
Furthermore, Markus said that the company is targeting to release Novi together with Diem. Diem is a dollar-affiliated digital currency that Facebook is also developing. However, the release date of Diem is still uncertain.
“In theory, Novi could be launched before Diem, but that would mean launching without Diem and that’s not necessarily something we want to do,” Marcus said in an interview with the media as quoted by AFP on Wednesday (25/8).
In 2019 Facebook said it planned to introduce a cryptocurrency which at the time was called Libra. However, the project faces regulatory hurdles regarding its safety and reliability.
Libra Changes Its Name to Diem
In December 2020, Libra changed its name to Diem and moved its operations from Switzerland to the United States as part of a strategic shift.
With the increasing popularity of cryptocurrencies, cybercriminals often target this digital money theft.
Hackers target crypto assets stored in digital wallets to assets stored by cryptocurrency exchange platforms.
Previously, hackers stole around US$600 million in crypto assets from decentralized financial platform (defi), Poly Network, on Tuesday (10/8). The theft is said to be the largest in the history of the defi industry.
Last week, another hack occurred and hit the Japanese cryptocurrency exchange platform, Liquid, stating that its official website was hacked by hackers on Thursday (19/8).