Facebook Chooses Coinbase as Custody Partner for Novi Pilot
Facebook (NASDAQ: FB) chose Coinbase (NASDAQ: COIN) as its custody partner for Novi, a new digital wallet that lets people send and receive money abroad. Social media giant Facebook has chosen Coinbase to take care of custody for its new digital wallet called Novi. In a blog post yesterday, Coinbase announced that Facebook had chosen it as its custody partner for its pilot of Novi, a new digital wallet that enables people to send and receive.
TLDR; Facebook is piloting Novi, a new digital wallet that enables people to send and receive money abroad instantly, securely, and with no fees.
Novi is Facebook's attempt at a zero-fee global stablecoin. Facebook has chosen Coinbase as its custody partner for the launch of a pilot of the wallet Novi, which is a digital wallet that people can use to send and receive.
Novi, Facebook’s new digital wallet, will use Coinbase’s security to facilitate global payments. For the pilot, Coinbase is supporting Novi via Coinbase Custody, which keeps user funds secure with our proprietary, fully segregated cold storage capability for. For the pilot, Facebook is supporting Novi via Coinbase’s new custody arm will ensure that funds in Novi are secure when users sign up for the pilot program. Currently, the program is available in America. In addition, Coinbase recently announced that Facebook had chosen