Facebook is waiting for Regulatory approval to launch Novi Crypto wallet


The Co-creator of Facebook’s Diem network stated that they are ready with their development work on Novi wallet but they want approval from the regulators.

As all of us in the crypto community know very well that Facebook introduced a stable digital coin Libra in the crypto market but later they stopped their coin from being used because of the unclear regulation rules in the world. But still the developer team of Facebook is working to bring crypto related products and services and they are ready to introduce a Crypto wallet “Novi ”.

Read also: Facebook’s Libra Coin May Need Banking License to Operate

 In a Bloomberg Television interview, the head of Facebook Financial and co-creator of Facebook-initiated cryptocurrency Diem, David Marcus shared about their plans and development work on “Novi ” wallet.

David said that the developers team completed their development work on “Novi” and now they are ready to launch. And further he added that they are also eager to get into the NFTs based market place but there are some necessary things which are needed to clear in this early stage. 

According to David, it is necessary for Facebook to bring Novi with a better option for their users so that they can make their wallet useful. 

The most important thing that David shared is about the regulation system. David claimed that they want to work under the regulation & laws, So they will wait to get approval from the regulators and right now they will hold the launch of Novi. 

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