Facebook Calibra wallet is now called Novi

by in Blockchain News

Novi

The Calibra wallet has been renamed Novi and transferred to the management of its subsidiary Facebook - Novi Financial.

A Novi Financial's statement said that the name Novi was coined as a fusion 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.

“Although we changed the name, our mission has not changed. We want to help people from all over the world gain access to affordable financial services,” the statement emphasizes.

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The developers said that the Novi wallet is planned to be available both through a separate application and as part of the Facebook Messenger and WhatsApp messengers. According to them, there will be no hidden fees in the wallet for receiving, storing, exchanging, and transferring coins. Besides, it is planned to introduce a user identification system to combat fraudsters.

As noted by the co-founder of Libra David Marcus, 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 is going to support not only its crypto but also digital state currencies.