Facebook is testing out its cryptocurrency wallet called Novi. Beginning with a small pilot in the United States and Guatemala, a limited number of users will be able to use the wallet to send and receive money instantly.
The company has been teasing Novi for over two years. Facebook’s payments chief David Marcus finally announced the rollout of the wallet this morning.
“We’re doing a pilot to test core feature functions, and our operational capabilities in customer care and compliance,” Marcus wrote on Twitter. “We’re also hopeful this will demonstrate a new stablecoin use case (as a payments instrument) beyond how they are typically used today.”