Crypto chaos sees Meta ditch its Novi payment wallet after just 9 months

What you need to know

Meta has announced the end of its Novi digital wallet pilot.
Novi was never available outside the United States and Guatemala.
People are being told to withdraw their money as soon as possible.

The Novi digital wallet is going away on September 1, Meta has confirmed.

Meta, the artist formerly known as Facebook, has canned its fledgling digital wallet payments pilot just nine months after it launched it in November of 2021.

In a move announced via the Novi website and first reported by Coindesk, the pilot will come to an end this September — but people will begin to lose the ability to add money to their accounts much sooner than that. On July 21, to be exact.

The company is also suggesting that its users should yank their money out of the service “as soon as possible,” with more information available via the Novi website.

The news comes amid ongoing uncertainty within the entire crypto world. The Novi idea was first floated three years ago with Calibra…

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Meta’s shutting down its digital wallet, Novi

Image: Facebook

Meta’s ending the pilot for Novi, the company’s digital wallet and the last remaining piece of its troubled cryptocurrency project, as first reported by Bloomberg. On Novi’s website, Meta says the wallet is shutting down on September 1st, 2022, and asks users to withdraw their funds “as soon as possible.”

Users will lose access to their accounts come September, and will no longer be able to add money to Novi starting July 21st. If someone forgets to withdraw their remaining balance, Meta says it will “attempt to transfer” their funds to the bank account or debit card added to the service.

Meta rolled out the “small pilot” of Novi to users in the US and Guatemala last October. Novi was originally built to support fast and free…

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