Facebook Renames Its Digital Wallet Calibra as Novi

Facebook has announced it is renaming its digital wallet Calibra as ‘Novi’ with the hope that it will be used to access the Libra digital currencies.

The company in a blog post said that  the new name Novi was inspired by the Latin words “novus” for “new” and “via” for “way.” It’s a new way to send money, and Novi’s new visual identity and design represent the fluid movement of digital currencies. “We’ve also included a nod to the Libra icon in the brand logo to underscore our commitment to the Libra network.”

Head of Novi, David Marcus in the blog post said, “With Novi, sending money will be as easy as sending a message. Clients will be able to use Novi as a stand-alone app, as well as in Messenger and WhatsApp.

“There will be no hidden charges to add, send, receive or withdraw money and your transfers will arrive instantly. All Novi customers will be verified using government-issued ID, and fraud protections will be built in throughout the app. And, whenever you need it, you’ll have 24/7 access to our chat-based support and customer care team.”

The company hopes to introduce an early version of Novi when the Libra network is available.

“We’ll roll it out in an initial set of countries, with features that will make cross-border money transfers instant, secure, and with no hidden fees. If you’d like to be one of the first to know when Novi becomes available in your country, sign up for updates at Novi.com,” the blog post reads.