WhatsApp is testing cryptographic payments for a limited number of users through the company-owned Novi digital wallet. The feature is only rolling out to a select group of users, according to The Verge. The announcement was confirmed by the head of WhatsApp, Will Cathcart.
The Novi digital wallet is Meta's digital wallet that began to be launched in October this year in the United States and Guatemala, although WhatsApp's encryption feature is limited to the United States United. It will allow users to send and receive money “instantly, securely and without fees” and uses the stablecoin Paxos, which Novi relies on.
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In a tweet, Will Cathcart wrote: “New in the US: Use your Novi digital wallet to send and receive money directly in a WhatsApp chat.” Meanwhile, Novi boss Stephane Kasriel also posted about the news saying that the new feature will allow users to easily send money to friends and relatives.
Just as WhatsApp payments work in some countries, users can tap the paperclip icon on Android or the plus symbol on iOS to choose payment from the menu.
Payments made with the Novi Wallet are instant and fee-free. Keep in mind that Novi does not use other cryptocurrencies such as Bitcoin or Ether.
The new crypto payments will not affect end-to-end encryption on WhatsApp. The novelty is available in English and Spanish, according to reports.
