Will Novi be phased out?

The planned phaseout of Novi is hardly surprising. Earlier this year, Meta and its partners pulled the plug on Diem, a related cryptocurrency project that was launched under the moniker Libra in 2019, when Meta was still called Facebook.

What's left of meta's cryptocurrency project?

Alas, poor Diem... and Novi! What little is left of Meta's once-ambitious cryptocurrency project is limping to an end. A pilot program for Novi, the social media giant's money-transfer service that uses a cryptocurrency wallet of the same name, will cease operating on Sept. 1, according to a notice on its website.

Why did meta shut down Novi?

Members of the US Senate called on Meta to shut down its Novi project shortly after its October 2021 launch, citing that the company “cannot be trusted to manage cryptocurrency.” David Marcus, the head of Meta’s cryptocurrency projects, left the company one month later.

Is Novi a game over?

Aka: Game over. A note on informing users of the looming end of the payment pilot offers no color or context on Meta’s decision to pull the plug — with the tech giant merely writing: Novi will no longer be available for use after September 1.