Facebook’s new digital wallet helps people send and hold Libra digital currencies
Facebook, a winner of the World Branding Awards, has introduced Novi, a new name and brand for the digital wallet that will help people send and hold Libra digital currencies. Whilst the company has changed its name from Calibra, Facebook assures its users that they have not changed their long-term commitment to helping people around the world access affordable financial services.
Whether it’s sending money home to support the family members who have supported their users, or receiving money from friends no matter their location, the Novi wallet will make money work better for everyone.
Novi, a subsidiary of Facebook that operates independently from Facebook, was inspired by the Latin words “Novus” for “new” and “via” for “way.” It’s a new way to send money, and Novi’s new visual identity and design represent the fluid movement of digital currencies. Facebook also included a nod to the Libra icon in the brand logo to underscore its commitment to the Libra network.
With Novi, sending money will be as easy as sending a message. Users will be able to use Novi as a stand-alone app, as well as in Messenger and WhatsApp. There will be no hidden charges to add, send, receive or withdraw money and your transfers will arrive instantly. All Novi customers will be verified using government-issued ID, and fraud protections will be built in throughout the app. And, whenever you need it, you’ll have 24/7 access to the applications chat-based support and customer care team.
Facebook hopes to introduce an early version of Novi when the Libra network is available. The company will introduce the digital wallet in an initial set of countries, with features that will make cross-border money transfers instant, secure, and with no hidden fees.