Meta's Novi Cryptocurrency Wallet Is Shutting Down: What You Need To Know

Meta Platforms (NASDAQ: META) owned Novi digital wallet will be shut down by September. The company announced that the final day to add funds would be July 20. 

According to Bloomberg, Meta asked Novi users to withdraw their balance as soon as possible. The company said it would “attempt to transfer” any remaining money to customer bank accounts and debit cards after Novi’s final day of operation.

“We are already leveraging the years spent on building capabilities for Meta overall on blockchain and introducing new products, such as digital collectibles,” a company spokesperson told Bloomberg. 

Also Read: Key Facebook Executive Behind Digital Currency And Wallet Project To Depart Company This Month

“You can expect to see more from us in the web3 space because we are very optimistic about the value these technologies can bring to people and businesses in the metaverse,” the spokesperson added.  

Last year, in October, Meta launched the pilot of its Novi cryptocurrency wallet in the U.S. and Guatemala. 

In December, it announced that users in the U.S. can send and receive money using its Novi digital currency wallet. 
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