The messaging app will now allow users in the US to send each other money using the Novi digital wallet.
WhatsApp has partnered with Novi to support cryptocurrency-based money transfers in the US. Novi says its service relies on a stablecoin called the Pax Dollar ( USDP) issued by Paxos. Unlike cryptocurrencies that constantly fluctuate in value, such as Bitcoin and Ethereum, each USDP is equivalent to one US dollar. That makes it easier to use the stablecoin for money transfers. Novi says WhatsApp users will have to create accounts with its service to use this feature, which makes sense, and that it’s looking to « bring Novi to as many places as possible.
