Facebook Finally Launches Digital Currency Wallet Novi but Senators Want to Close This Project
Amid the Facebook Novi launch, some federal legislators want the social media giant to discontinue the project.
One of the leading consulting services companies has developed a new platform that will enable digital assets to be used for a range of services, including everyday commerce, banking, and other personal currency and asset related services.
Amid the Facebook Novi launch, some federal legislators want the social media giant to discontinue the project.
Users in the enlisted areas would be able to send and receive USDP in their Facebook Novi wallets, with Coinbase providing custody.
The surge in Facebook revenue in Q1 can be attributed to a 30% rise in the average price per advertisement.
Currently, Diem Association is in talks with the Swiss financial regulators to secure a payment license.
Gold protected tokens like GoldFinX appears to be the best investment source for institutional and retail investors since they can be easily traced back to find its custodial asset backing its worth.
Zhou said that holders of the digital yuan can use it for trading or investment. He added that, unlike Libra, they “don’t have an ambition to replace existing currencies”.
They took the view that “we can just crush them, we’re Facebook,” said the co-founder of Diem.
The G7 officials discussed the need to regulate crypto assets and prevent its use for any malicious or illicit activities. There’s strong support across the top economies to regulate digital assets.
Despite the regulatory scrutiny, Spotify has shown willingness to work with Facebook on its Diem project (previously Libra). Besides, the job posting also hints at the company’s willingness to work on the CBDC developments in the crypto industry.
Before now, the Diem association already selected some of its members to serve in different positions.