FACEBOOK RENAMED THE CALIBRA WALLET TO NOVI

The Facebook Libra wallet was renamed to Novi and placed under the management of Facebook's subsidiary, Novi Financial. In a statement, Novi Financial reported that the name Novi was coined as a merger of the Latin words "Novus" ("new") and "VIA" ("path"), and the visual design of the logo should show the natural movement of digital currencies. Like the previous developer of the Calibra wallet, Novi Financial declares its independence from the parent company.

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. Whether you're sending money home to support the family members who supported you, or you're receiving money from your friends no matter where they are, the Novi wallet will make money work better for everyone.

emphasized in the statement.

The developers have informed that the Novi wallet will be available both via a separate app, and within the Facebook Messenger and WhatsApp messengers. According to them, the wallet will not have any hidden fees for accepting, storing, exchanging and transferring coins. In addition, to combat fraud, it is planned to introduce a user identification system.

As noted by Libra co-founder David Marcus, the rebranding should distance the wallet from the Libra project and reduce the attention of regulators, at least to this part of the project. Recall that, as reported in early March, the Calibra wallet will support not only its own cryptocurrency, but also digital state currencies.

Novi Financial was founded with the mission of making money work better for everyone. We believe that all people around the world should have equal access to financial services. The first product Novi Financial will introduce is the Novi digital wallet designed for Libra, a new payment system which is built on innovative blockchain technology. Novi Financial is a subsidiary of Facebook that operates independently from Facebook, and is headquartered in Menlo Park, California.

emphasized in the statement.