Category: Facebook

May 27, 2020 / / Facebook

Facebook has renamed its digital wallet Novi, drawing from Latin words that mean new and way. Facebook’s (NASDAQ:FB) digital wallet is getting a new name as the social media giant tries to bring its Libra cryptocurrency to the market.  In a blog post, David Marcus, head of the digital wallet, said it’s rebranding from Calibra…

May 26, 2020 / / Facebook

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May 26, 2020 / / Facebook

We’ve changed our name to Novi.What’s not changing is our commitment to better money movement. Read more.For everyone.Novi is a new digital wallet for the Libra payment system that helps you keep more of your money.What if sending money to anyone was a simple as sending a message?What if you could support your loved ones…

May 20, 2020 / / Facebook
May 15, 2020 / / backed

With high-profile members already backing out, adding Temasek is a win for Facebook’s crypto efforts. The Libra Association, the group overseeing Facebook’s (NASDAQ:FB) cryptocurrency initiative, has added Temasek, the Singapore investor with a $313 billion portfolio of investments, as its newest member. State-backed Temasek adds more legitimacy to a project that has lost high-profile backers and…

April 25, 2020 / / Facebook

Since its inception late last year, Facebook’s new product experimentation team has been busy devising new minor Facebook products that are designed to bring greater functionality to the social media platform and also integrate with non-Facebook products to widen the potential customer base of their brand. We’ve already seen some interesting new developments from them…

April 20, 2020 / / Facebook

The social networking giant isn’t abandoning its fintech dreams. Last year, Facebook (NASDAQ:FB) assembled a consortium of companies to create an open-source cryptocurrency called Libra. Facebook planned to offer Libra as a payment option in a digital wallet called Calibra, then integrate those payments into Messenger and WhatsApp. But shortly afterwards, leading members of the consortium…

April 16, 2020 / / Facebook

Now, Libra will tie itself to a series of currencies, including US Dollars, Euros, and British Pounds. As TechCrunch explains, “when you send one Libra, you’ll actually send a fraction of USD-backed, EUR-backed, GBP-backed (etc.) stablecoins.” That should be an effective hedge against currency fluctuations, but it’ll hardly remove the risk for buyers or sellers. It’s…

April 16, 2020 / / Facebook

Facebook is scaling back its cryptocurrency project Libra.The ambitious plan to build a new transnational digital currency faced a wave of criticism and regulatory scrutiny.On Thursday, it announced it would be linked to individual currencies and have additional oversight by watchdogs. It is now seeking approval from Switzerland’s markets watchdog. Facebook is scaling back its beleaguered…

March 10, 2020 / / Facebook