Facebook Rebranded its Digital Coin Libra to “Novi”, which was derived from Latin words for “new” and “way.” This rebranding was announced on Tuesday.
According to head of the digital wallet project David Marcus said “It’s a new way to send money, and Novi’s new visual identity and design represent the fluid movement of digital currencies,”.
“With Novi, sending money will be as easy as sending a message.”
Novi will work as a separate app for smartphones and also be woven into Facebook-owned communication services Messenger, and WhatsApp, according to Marcus.
Free Novi digital wallet promises eventually to give Facebook opportunities to build financial services and expand e-commerce offerings.
Rivals are free to build their own digital wallets for Libra.
The leading social network is just one of an array of members in a Libra Association formed to oversee the eponymous financial payments system.
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