A New Digital Wallet for Libra
Facebook announced Novi — the new name and brand for the digital wallet that will help people send and hold its Libra digital currencies. The wallet hitherto known as Calibra has been now rebranded Novi.
Announcing the news on its website, Facebook stated: “While we’ve changed our name from Calibra, we haven’t changed our long-term commitment to helping people around the world access affordable financial services”.
Facebook revealed Novi was inspired by the Latin words “novus” for “new” and “via” for “way.” It’s a new way to send money, and Novi’s new visual identity and design represent the fluid movement of digital currencies.
“We’ve also included a nod to the Libra icon in the brand logo to underscore our commitment to the Libra network.”
With Novi, users can send money as easy as sending a message. Even when other options are available to send money as easy as sending a message, the difference with Facebook option lies with the vast Libra network Facebook plans to unleash via its global social network.
A connected wallet for a connected world
Novi makes it simple, secure and instant to send, spend and receive digital payments in Messenger, WhatsApp and the Novi app. Novi is for the Libra payment system and uses blockchain technology. When money moves freely it’s better for everyone, everywhere.
Leveraging Whatsapp as well, Facebook said, 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. And, whenever you need it, you’ll have 24/7 access to our chat-based support and customer care team.
Facebook hopes to introduce an early version of Novi when the Libra network is available. The plan is to 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.
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