The Strategist

WhatsApp to introduce instant cryptocurrency payment feature

12/10/2021 - 05:27

WhatsApp is partnering with payment service Novi to provide users with instant transfers in Novi cryptocurrency via its app, according to Novi CEO Stephane Kasriel on Twitter.

"Starting today, a limited number of people in the US will be able to send and receive money via WhatsApp using Novi," Kasriel writes.

Novi is a payment platform that allows instant transfers using its own Pax Dollar Stablecoin (USDP) equal to $1. There is no fee for withdrawing money from the wallet or transferring to the local currency. The service is currently available in the US and Guatemala.

According to Kasriel, transfers from Novi e-wallets will be made instantly directly in the WhatsApp app, appearing in users' chat. He points out that the use of Novi will not affect WhatsApp's privacy policy, end-to-end encryption will still be used for calls and messages.

Kasriel also notes that Novi is in a pilot testing phase, hence the decision to launch the feature in one country. In the future, after receiving feedback from the test team, it is planned to make payments available to more users.

WhatsApp is an application owned by Meta (formerly Facebook) that can be used to send and receive messages, calls, photos, videos, documents and voice messages.