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The Facebook virtual wallet is ready for the first tests

The Facebook virtual wallet is ready for the first tests

Everything is ready for the first tests of Novi, the new cryptocurrency wallet from Facebook.

Facebook launches Novi in ​​the US and Guatemala

Facebook would finally be starting the tests of Novithe digital wallet that has been talked about for some years now. David Marcusthe company’s head of payments, announced that the company is launching “a small pilot test” in the United States and Guatemala.

“We are testing core functionality functions and our operational capabilities in customer service. We hope to encourage the use of stablecoin as a payment method “.

Engadget.com makes it known that the company is launching the wallet without implementing Diem. The latter is the cryptocurrency created by Facebook, which currently exists only as an idea, given that it is overwhelmed by bureaucratic problems. In fact, lawmakers and regulators from around the world are rejecting the new crypto.

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The test phase will then use the Pax dollar (USDP). This is a stablecoin chosen because, as Marcus explains, “it has been operating successfully for over three years and has important regulatory and consumer protection attributes”.

Five senators openly take sides against Zuckerberg’s ambitions

The news of the pilot has already aroused new and harsh criticism from lawmakers. On Tuesday, just hours after Marcus’ initial announcement, a group of five Democratic Senators from the United States he sent a letter to Facebook asking the company “to immediately stop the Novi pilot project and to undertake not to bring Diem to the market”. The letter leverages recent revelations from a whistleblower that the brand was “relentlessly seeking profits at the expense of its users.”

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Here is the content of the letter from the senators:

“Given the scale of the scandals surrounding your company, we write to express our strongest opposition to the renewed effort to launch a cryptocurrency and digital wallet. Specifically, we refer respectively to the projects called Diem and Novi. This is because Facebook’s existing ability to manage safety and protect consumers has proven to be wholly insufficient ”.

Engadget reports that the Novi staff is ready to respond formally to the letter in question. Meanwhile, returning to the long-term plans for Diem, David Marcus dispels all doubts regarding cryptocurrency:

“Our plans for Diem haven’t changed. We intend to launch Novi with Diem once the various bureaucratic issues have been dealt with “.