Just last October, the Novi crypto wallet was launched. It was developed specifically for Facebook’s own cryptocurrency “Diem”. Citizens from the U.S. and Guatemala, for example, were able to send money to each other via WhatsApp using the Novi wallet and the Ethereum-based stablecoin PAXOS. However, only initial pilot projects for the cryptocurrency could be launched so far due to regulatory issues.

With Meta Pay, it should not only be possible to send cryptocurrencies in the future. Users should be able to use it to manage their digital avatar and also virtual items via the new platform. The wallet could thus develop into a universally usable metaverse wallet that several billion people are expected to use in the future.