Facebook Intends to Launch Novi Wallet With Diem Crypto Network After Regulatory Approval

Facebook Intends to Launch Novi Wallet With Diem Crypto Network After Regulatory Approval
Facebook's logo on a smartphone screen in Moscow, Russia, on Oct. 12, 2021. Kirill Kudryavtsev/AFP via Getty Images
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Social media giant Facebook made an announcement about two projects, one of which many people thought had been put on hold indefinitely.

What Happened

According to a Tuesday Cointelegraph report, a Facebook spokesperson confirmed the company has not abandoned its plans to launch its Diem cryptocurrency network and intends to do it alongside the Novi digital wallet it is now testing. In fact, the anonymous informed said: “We intend to launch Novi with Diem once it receives regulatory approval and goes live.”