Facebook Confirms: Novi Wallet To Launch With Diem Crypto Network

October 19, 2021 6:51 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Facebook Confirms: Novi Wallet To Launch With Diem Crypto Network

Social media giant Facebook Inc. (NASDAQ:FB) made an announcement about two projects, one of which many had thought been put on hold indefinitely.

What Happened: According to a Tuesday Cointelegraph report, a Facebook spokesperson confirmed the company has not abandoned its plans to launch its Diem cryptocurrency network and intends to do it alongside the Novi digital wallet it is now testing. In fact, the anonymous informer said: “We intend to launch Novi with Diem once it receives regulatory approval and goes live."

See Also: HOW TO BUY FACEBOOK (FB) STOCK

The news follows a recent report that Facebook is looking to hire 10,000 people in the European Union as part of a futuristic bet. The firm plans to leverage the newly acquired workforce to develop its vision of the metaverse, a digital realm where people could share experiences while being far apart leveraging augmented reality and virtual reality devices. The company's CEO Mark Zuckerberg has gone as far as to say that he expects "people will transition from seeing [Facebook] primarily as a social media company to seeing us as a metaverse company."

See Also: WHAT IS THE METAVERSE?

FB Price Action: Facebook is trading up 1.39 % at $339.99 at market close Tuesday. 

Photo: Alex Haney via Unsplash

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.


Related Articles

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

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

David Marcus, the co-creator of Facebook Inc’s (NASDAQ: FB) digital currency project Diem, is leaving the company at the end of December. read more
Reddit Co-Founder And Solana Ventures Invest $100M To Build Social Media On Solana

Reddit Co-Founder And Solana Ventures Invest $100M To Build Social Media On Solana

Alexis Ohanian, the co-founder of Reddit, told conference attendees on Tuesday that he has partnered with Solana Ventures to further the growth of decentralized social media projects on the Solana (CRYPTO: SOL) blockchain. read more
Top Ten Weekly NFTs By Sales Volume: Axie, CryptoPunks Top List, The Sandbox, Parallel, Fat Apes, Desperate ApeWives Gain

Top Ten Weekly NFTs By Sales Volume: Axie, CryptoPunks Top List, The Sandbox, Parallel, Fat Apes, Desperate ApeWives Gain

The non-fungible token market continues to heat up with strong sales volume on OpenSea, an NFT marketplace for buying and selling items. read more
Nike Joins Facebook And Microsoft In Entering The Metaverse

Nike Joins Facebook And Microsoft In Entering The Metaverse

A series of trademark applications filed by Nike Inc (NYSE: NKE) indicate the multinational sneaker and apparel giant is preparing to enter the metaverse. read more