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Facebook's Libra e-wallet will use the official name "Novi", instead of the original name "Calibra"

May 28, 2020

According to Marcus, "Novi" is derived from Latin meaning "New" and "Method", indicating this is a new method of sending money. He emphasized the new format and image design of Novi that represents the movement of digital currencies. With Novi e-wallet, sending money is as easy as sending a message.

The Facebook representative also added that Novi will act as a separate application for smartphones and also integrate into Facebook's communication applications such as Messenger and WhatsApp. The free Novi e-wallet promises to give Facebook the opportunity to set up financial services and expand e-commerce services.

Facebook is only one of the members of the Libra Association - the unit established to oversee the financial payment system of the same name. There are mixed opinions on the Libra. Supporters argue that the cryptocurrency can help customers reduce the costs of transactions and payments in the banking system. Opposition has argued that the currency could disrupt the global monetary system and monetary market.

As a result, the Libra Association recently revised its new plan to create separate "stabilized currencies" and will be priced in terms of real currencies such as the US dollar and the euro.
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