Novi Financial, formerly known as Calibra, plans to collaborate with existing stablecoins.
In the summer of 2019, Facebook announced plans to issuing a stablecoin called Libra. The coin was to be backed by a basket of currencies and other assets and managed not by Facebook, but by an independent organization, the Libra Association. The Calibra wallet was developed specifically for Libra.
Almost immediately after the statement was released, regulators in a number of countries criticized Libra.
Last spring, Facebook renamed the Calibra wallet to Novi. Novi Financial is a new company responsible for developing the wallet and digital coin.
According to The Block, Novi is in talks with Paxos and Circle in order to integrate USDC and PAX into its wallet. The release of the planned Diem USD remains in doubt.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
According to www.theblockcrypto.com
You May Also Like
Facebook shuts down cryptocurrency project Libra
The company first announced the launch of Diem (formerly Libra) in 2019, but regulatory pressure prevented Facebook from implementing its plans.
Stablecoin market capitalization exceeded $120 billion
The market capitalization of stablecoins increased throughout 2021, surpassing $120 billion by September.
