Novi is the new facebook wallet, this wallet is in trial period and is currently only available for the United States and Guatemala. This wallet will allow us to send and receive money instantly, securely and without commissions.

We can operate this currency from Coinbase trading, this platform dedicated to cryptocurrency trading is based in San Francisco, California. Here they will be in charge of the custody and storage of the cryptocurrencies that Facebook will offer to the Novi

Thanks to this announcement, Coinbase shares were up 2% on Tuesday, October 19 at the time the news was released. David Marcus, Leader of Facebook Financial and co-creator and board member, was in charge of announcing the news via Twitter.

In the Twitter statement David Marcus also informed that for this pilot test the Novi wallet will operate with the Pax dollar stablecoin (USDP). All this will be possible thanks to the union of Facet with the startup Paxos and the exchange.

Marcus indicates that they have chosen stablecoin because it is well positioned and has been operating successfully for more than three years.