We’ve identified that Meta (previously often called Facebook) has been concerned about cryptocurrency. The firm had beforehand tried to launch its personal cryptocurrency referred to as Libra, however on account of numerous hurdles, it in the end didn’t come to cross and was later renamed to Diem.

That being stated, it appears that evidently Meta isn’t giving up on its crypto plans simply but as a result of WhatsApp, owned by Meta, has recently announced that they are going to be launching a cryptocurrency fee characteristic within the US of a small variety of customers (presumably it will roll out to extra customers sooner or later).

The fee system might be finished by means of integration with Novi, a digital pockets owned by Meta, and can use the Paxos Dollar stablecoin which is tied to the US greenback, that means you can commerce cryptocurrency with different customers and never have to fret about its worth fluctuating in contrast to different cryptocurrencies like bitcoin and altcoins.

Users can ship and obtain cryptocurrency funds like they’d ship or obtain media, and so they can then later withdraw their cash to a financial institution the place they may obtain it within the equal worth of the USD. At the second there doesn’t appear to be any charges related to utilizing the characteristic, and customers will have the ability to ship and obtain cash as many instances as they’d like.

WhatsApp is not any stranger to utilizing its platform to ship or obtain cash. The service is obtainable in different international locations akin to India and Brazil, however they use extra conventional types of cash moderately than crypto, so this is able to be a primary for the corporate.

Filed in General. Read extra about Cryptocurrency and Whatsapp. Source: macrumors