WhatsApp has begun accepting cryptocurrency payments from a select group of US users via Novi, a Facebook-owned digital wallet (now Meta).
The pilot programme allows users to send and receive money "instantly, securely, and fee-free" using the US dollar-linked Paxos Dollar (USPD) stablecoin.
Payments in WhatsApp work like regular attachments in a conversation. Users tap the plus (+) icon, then choose Payment from the menu. Users are paid in USDP, which can be withdrawn to a bank account in US dollars.
The Novi system can send and receive money through WhatsApp indefinitely. No fees apply as of now
Instead of using Diem, Novi has adopted the Paxos stablecoin in partnership with Coinbase, which is the custody partner for the pilot's funds.
WhatsApp already has payment systems in India and Brazil, but they use fiat currency.
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