Novi Financial which is a subsidiary of Facebook announced on May 26th that its digital wallet that was previously named Calibra will now be called “Novi“.
Novi is a digital wallet for the Libra payment system, that aims at helping people send and receive money easily through Facebook, WhatsApp and messenger. It will also be available as a stand-alone app in the App Store and Google Play.
As it is stated in Novi’s website, the said digital wallet will not charge any fees in order to help people keep more of their money.
Novi is currently being built and as Kurt Wagner (Bloomberg Technology) reported, “the Libra Association is hoping to have regulatory approval for this project by late 2020”