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Facebook’s Novi wallet is ready to launch – but it won’t be launching with the Diem (formerly Libra) stablecoin. Novi, Facebook’s digital wallet subsidiary, will go live in the U.S. and Guatemala in a pilot program, allowing users to start trading the Paxos Dollar (USDP), the social media giant announced this week. Crypto exchange Coinbase will provide custody services for the program.
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“This does not mean our support for Diem has changed,” the Facebook press release said. “We intend to launch Novi with Diem once it receives regulatory approval and goes live.”
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