Whatsapp Activates Few Feature to Allow Users Trade Cryptos
WhatsApp has announced the introduction of a new pilot program that would allow a “limited number” of individuals in the United States to send and receive money using cryptocurrencies from within a chat.
“The @Novi digital wallet now has a new opportunity to try it out. Novi’s CEO Stephane Kasriel said in a tweet on Wednesday that “a limited number of people in the US will be able to send and receive money using Novi on @WhatsApp, making sending money to family and friends as easy as sending a message.”
Novi, WhatsApp’s parent company’s prototype digital wallet, will be used to make the feature available. Payments will be made in Pax Dollars (USDP), a stablecoin created by Paxos that is pegged to the US dollar.
Payments in WhatsApp work in the same way that standard attachments do in a conversation. Users tap the addition (+) icon, then choose Payment from the drop-down box. Users will be able to receive USDP via WhatsApp, which can subsequently be withdrawn to a bank account in the US dollar equivalent.
There are no restrictions on how many times the Novi system can be used to send and receive money using WhatsApp, and there are no fees for retaining a balance in a Novi account or withdrawing it to a bank account.
Novi co-founder David Marcus stated in November that Meta will launch Novi payments, which will combine all existing and future payments and financial services experiences under the Novi brand.