Facebook is ready to launch its digital wallet, according to David Marcus, the executive who spearheaded the social media group’s move into digital currencies.
In a memo on Wednesday, Marcus said that Novi, a digital currency wallet that will be integrated into Facebook apps, was “ready to come to market”, adding that it had secured licences or regulatory approvals in “nearly every” US state.
He said that the wallet would offer free person-to-person payments both domestically and internationally, describing Facebook as “a challenger in the payments industry”.
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