Facebook Renames Its Digital Wallet for the Upcoming Libra Cryptocurrency Collective

Calibra is now Novi

The digital wallet had previously been known as Calibra Novi/Facebook

The digital wallet for the Libra cryptocurrency collective being spearheaded by Facebook has a new name: Novi.

The digital wallet had previously been known as Calibra, and head of Novi David Marcus explained in a blog post that the new name was inspired by Latin words “novus,” for “new,” and “via,” for “way.”

He added that the goal is to introduce an early version of Novi when the Libra network goes live, rolling it out in an initial set of countries with features that will enable people to transfer money across boarders instantly, securely and with no hidden fees.

Marcus wrote, “With Novi, sending money will be as easy as sending a message. You’ll be able to use Novi as a stand-alone application, as well as in Messenger and WhatsApp. There will be no hidden charges to add, send, receive or withdraw money, and your transfers will arrive instantly. All Novi customers will be verified using government-issued ID, and fraud protections will be built in throughout the app. And whenever you need it, you’ll have 24/7 access to our chat-based support and customer care team.”

david.cohen@adweek.com David Cohen is editor of Adweek's Social Pro Daily.