Skip to main content

Facebook rebrands its cryptocurrency wallet as Novi

Facebook’s digital wallet has a new name: Novi.

The social media giant announced on Tuesday that Calibra, which will send and hold Libra, Facebook’s proposed cryptocurrency, has been rebranded.

Novi will allow people to send money through a message on either Facebook Messenger and WhatsApp. There will also be a stand-alone app for Apple and Android. 


Once Novi becomes available, you’ll need a government-issued ID to sign up, according to the announcement.

The Novi team promised there will be no hidden fees to send, receive, or withdraw money, and that all transfers will be instant. Novi’s features also include the ability to make cross-border money transfers instantly and securely. 

“Whether you’re sending money home to support the family members who supported you, or you’re receiving money from your friends no matter where they are, the Novi wallet will make money work better for everyone,” Novi said in the announcement.

Novi will be released once the Libra blockchain network is available. The Facebook-backed cryptocurrency is expected to be released later this year. 

The name change comes as the Libra Association, which is comprised of Facebook and a diverse lineup of businesses and nonprofit organizations, announced several updates to its Libra cryptocurrency project last month. 

The association is shifting from creating an open global financial network to offering both single-currency and multi-currency coins tied to local, real-world currencies. 

Other updates include a network-level system to combat money laundering and replacing the planned permission-less system with a market-driven network that is open and competitive.

Editors' Recommendations

Allison Matyus
Former Digital Trends Contributor
Allison Matyus is a general news reporter at Digital Trends. She covers any and all tech news, including issues around social…
Facebook-backed Libra cryptocurrency is scaling back its plans
Facebook Libra

After months without any updates, Facebook’s planned cryptocurrency project Libra announced significant changes to scale back its global payment system. 

The Libra Association, which is comprised of Facebook and a diverse lineup of businesses and nonprofit organizations, announced several updates to the project. Most notably, the association is shifting from creating an open global financial network to instead offering both single-currency and multi-currency coins that would be tied to local real-world currencies. 

Read more
Facebook delays the launch of its dating app in Europe over privacy concerns
Facebook Dating

Facebook Dating, which launched last September in the US, has hit a major snag in Europe. 

On Wednesday, the Data Protection Commission (DPC), an independent consumer protection agency, announced it was “very concerned” about Facebook’s desire to expedite the feature across the European Union, leading the social media giant to stall its rollout indefinitely. 

Read more
Another partner backs out of Facebook’s Libra cryptocurrency
Facebook Libra

Yet another company that signed on as a partner in Facebook’s proposed cryptocurrency known as Libra has backed out of the association. The British telecommunications operator Vodafone announced its departure from Facebook’s Libra Association on Tuesday, Coindesk reports. In total, eight companies have now backed out of the Libra partnership. 

"We can confirm that Vodafone is no longer a member of the Libra Association. Although the makeup of the Association members may change over time, the design of Libra's governance and technology ensures the Libra payment system will remain resilient," the Libra Association said in a statement. "The Association is continuing the work to achieve a safe, transparent, and consumer-friendly implementation of the Libra payment system.”

Read more