Facebook Pilots Novi Crypto Wallet With Coinbase, but Senators Urge Zuckerberg to ‘Immediately Discontinue’

The Facebook logo is displayed on their website in an illustration photo taken in Bordeaux, France, on Feb. 1, 2017. Regis Duvignau/Reuters

Social media giant Facebook has launched a pilot of its Novi crypto wallet in the United States and Guatemala but is already facing strong opposition from five Democratic senators.

What Happened

David Marcus, head of Facebook Financial, announced the Novi pilot program on Tuesday to test the crypto wallet’s core feature functions and its own operational capabilities.