Meta (ex Facebook) is testing stablecoin transfers via WhatsApp

The Novi digital wallet , created by social media giant Meta (formerly Facebook), will allow its users to send and receive stablecoins through its popular messaging app, WhatsApp .

This news was shared on Thursday December 9 by Novi manager Stéphane Kasriel , who said in a tweet that the company was working on “a new way to try” the wallet through the latest pilot.

“As of today, a limited number of people in the US are able to send and receive money using Novi on WhatsApp, making sending money to family and friends. as easy as sending a message, “Kasriel wrote.

According to the website, transfers will be made instantly and free of charge. There are also no limits “on how often you can send money”.

When money is transferred to a Novi account, it is converted into PAX dollars (USDP) stablecoin , the site says.

Novi via WhatsApp is currently available in the United States in English and Spanish. “We are still at the start of this pilot operation with Novi, so we have made the decision to test this new entry point in a single country to begin with and we will look to expand it once we have heard from people on this. what they think of this new experience, ”Kasriel said.

“Since we introduced this pilot just six weeks ago, we’ve been able to test and learn which features and functionality are most important to people,” Kasriel said, adding that what they discovered is that people were using WhatsApp to coordinate sending money to other people, and that’s where Novi comes in.

“Payments will show up directly in people’s chat,” he said.

Finally, the head of Novi claimed that the wallet will not change the privacy of personal messages and WhatsApp calls.