On September 1, 2022, Meta will discontinue its cryptocurrency-based money-transfer service, called “Novi,” which makes use of the business’s own coin. coin purse “Novi”
In an announcement made on the website today, the company said, “Both the Novi app and Novi on WhatsApp will no longer be available starting September 1, 2022. When the pilot ends, you will not be able to log in and access your Novi account.”
The company has asked the users to withdraw their funds as soon as possible. Moreover, it also said, “Please also be aware that starting July 21, 2022, you will no longer be able to add money to your account.”
The business will assist users by transferring funds to their connected bank accounts if they are unable to move funds from their Novi account after it has been shut down.
Although the firm will discontinue its digital wallet services, it still has other plans for the technology.
As part of its efforts to “create the metaverse,” Meta will deploy technology “on new products, such as digital collectibles,” according to spokesperson Lauren Dickson in an interview with The Verge.