Originally announced as "Calibra" in 2019, Novi was Meta's (formerly Facebook) ambitious entry into cryptocurrency and global payments. It was designed as the official digital wallet for the Libra blockchain project, which was later rebranded to Diem. The mission was to enable simple, fast, and low-cost international money transfers for everyone. However, the entire project faced immense and sustained regulatory scrutiny from governments and central banks worldwide, who raised concerns about financial stability, monetary policy, and potential for illicit use. After a limited pilot program launched in late 2021 (using the USDP stablecoin instead of Diem), Meta officially announced the discontinuation of Novi, with all services ceasing on September 1, 2022.

Founded in

United States