Meta announces to shut down its cryptocurrency project on Sep. 1st

According to foreign media’s comprehensive reports on July 2nd, Facebook’s parent company Meta announced to shutter its Novi digital wallet on Sep. 1st, after which customers will no longer use Novi services. In addition, Meta revealed that users will not be able to deposit money into their accounts from July 21st and advised them to withdraw their balance as soon as possible.

Novi program allowed users to transfer and receive money instantly, securely, and with no fees. After the closure of the pilot project, users will be unable to retrieve their transaction history and other account information. Meta emphasized Novi users won’t have access to their accounts after Sep. 1st and Novi services will be no longer available on its application and WhatsApp. On Friday, Meta’s share prices closed at $160, a 0.76% marginal decrease.

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