About the brand ❤️
Novi was a digital wallet project initiated by Meta Platforms (then‑Facebook) as part of its ambition to enter the cryptocurrency and digital payments space. Initially introduced in 2020 (after rebranding from “Calibra”), Novi was supposed to enable frictionless international payments and remittances using digital currencies — originally tied to Meta’s planned stablecoin, then‑known as Diem. When regulatory pressure stalled Diem, Novi pivoted to using a dollar‑backed stablecoin (e.g., Paxos USDP) and launched as a pilot in select regions (notably the U.S. and Guatemala). Despite integration with popular Meta apps like WhatsApp and Messenger, the project failed to scale or win regulatory/market acceptance. In July 2022, Meta announced the discontinuation of Novi; the wallet and payment services were officially shuttered on 1 September 2022. The shutdown marked the end of Meta’s early crypto‑payment ambitions, although the company indicated it may reuse some underlying blockchain insights in future initiatives.
Founded: 2019
Closed: 2022
Headquarters:
Menlo Park, California, United States of America (the)
Owner: Meta Platforms
https://www.novi.com/
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