Company Information

Get to know Novi Money

Novi was the digital wallet brand for Meta Platforms' cryptocurrency project. Originally intended to be the wallet for the Libra (later renamed Diem) stablecoin, it faced significant regulatory hurdles globally. The project's mission was to create a more inclusive and accessible financial system, particularly for remittances. After pivoting away from the Diem currency, Novi launched a limited pilot program in the United States and Guatemala in October 2021, using the Paxos Dollar (USDP) stablecoin. However, due to continued regulatory pressure and shifting company priorities, Meta announced the discontinuation of the Novi pilot, officially closing the service on September 1, 2022.

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Financial Electronic PaymentPRIMARY
Financial Other Service

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Novi Money

United States

Founded in

2017 (9 Years)

Founded

Last online: No recent activity

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Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.