Meta to end Novi crypto program by September 1
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Meta has disclosed plans to discontinue its Novi pilot crypto program by September 1, according to Bloomberg.
Per the project’s website, Novi services will no longer be available on its application and WhatsApp.
The firm revealed that users will not be able to make deposits into their accounts from July 21 while advising those with funds to withdraw their balance.
The Novi program allows people to send and receive money instantly, securely, and with no fees.
A Meta spokesperson reportedly said the company would be leveraging its experience in this failed project for other future adventures it makes into the crypto space.
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