WhatsApp is testing cryptocurrency transfers - no limits or fees
Messenger WhatsApp has launched a pilot project to send and receive funds in cryptocurrency.
How it works?
The feature is powered by Novi, a digital wallet Meta (formerly Facebook) that launched as a pilot six weeks ago. However, payments are made using Pax Dollars (USDP), a USD-pegged stablecoin issued by Paxos.
You can send payments to WhatsApp just like any other file - you just need to select the paperclip icon on Android or the + icon on iOS, and then select “Payment” from the menu that appears.
There's a new way to try the @Novi digital wallet. Starting today, 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. pic.twitter.com/dGz3lejri7
- Stephane Kasriel (@skasriel) December 8, 2021
Novi notes that there are no fees for sending or receiving money, no restrictions on how often payments can be sent, and no fees for maintaining a balance in your Novi account or transferring it to your bank account. Payments are transferred instantly.
In addition, payments do not affect the end-to-end encryption of WhatsApp, which is used by default for all private conversations.
However, while the function is only being tested among a limited number of users and only in the United States. A pilot version of WhatsApp Novi is available in English and Spanish.
