Meta Announced To Discontinue Its Recently Launch Digital Wallet 'Novi'

Meta has now announced to discontinue and completely shut down its cryptocurrency digital wallet Novi in the upcoming months and also suggested withdrawing your money.

Recently, Meta CEO Mark Zuckerberg has shown multiple VR headsets prototypes in Meta’s reality labs, these headsets were meant to be tested, but you will find them very powerful.

Meta’s Digital Wallet ‘Novi’ Will Shut Down in September

Meta's Digital Wallet 'Novi' Will Shut Down in September

Meta’s Novi is a digital wallet that the company launched in October last year, and it was famous at that time because of Meta’s interest in cryptocurrency and NFTs.

As Novi’s website shows, you’ll not be able to access your Novi account after September 1, 2022, and you will be unable to add money to your account from July 21, 2022.

And it also recommends withdrawing your balance before the shutdown, and if due, for some reason, you forget to withdraw and some amount left in the account, so don’t be worried.

Meta will “attempt to transfer” your funds to the bank account or debit card you provided to your Novi account. And also, the company is open to answering your query regarding accessing your account after the shutdown.

Meta said on the website, “If you have money remaining in your Novi account after the pilot ends on September 1, 2022, we’ll attempt to transfer your balance to the bank account or debit card you’ve added to Novi. If you have questions about accessing your balance after the pilot has ended, you can contact us.”

Besides, this service was unavailable outside America and only in the US and Guatemala. And it was created to support fast and free transactions for Meta’s cryptocurrency, Diem.

Meta already has many social platforms, and the company finds it hard to regulate Novi’s system, but it would use Novi’s technologies and Diem in new products around its Metaverse.