WhatsApp Allows Users in US to Send and Receive Money Without Fees Using USDP Stablecoin
WhatsApp has launched a pilot to let a “limited number” of people in the US send and receive money using crypto.
This new feature is powered by Meta’s (previously Facebook) digital wallet Novi that was launched recently, supporting payments with stablecoin Pax Dollars (USDP).
New in the US: use your @Novi digital wallet to send and receive money right within a @WhatsApp chat. People use WA to coordinate sending money to loved ones, and now Novi will help them do that securely, instantly and with no fees. https://t.co/4wG4t8zwKh
— Will Cathcart (@wcathcart) December 8, 2021
The users can access the feature through the + icon on iOS or the paper clip icon on Android and then select “Payment” from the menu.
According to Novi’s website, it won’t charge any fees for sending or receiving money, keeping a balance in your Novi account, or withdrawing funds to your bank account. Additionally, there is no limit on how often the payments can be sent. Payments are transferred instantly as well.
Payments features won’t affect WhatsApp’s end-to-end encryption either, which is a default for all personal conversations.
“Using Novi doesn’t change the privacy of WhatsApp personal messages and calls, which are always end-to-end encrypted,” said Kasriel.
WhatsApp has already rolled out its payment feature throughout India and Brazil but uses traditional fiat currencies, unlike the US, where payments revolve around Novi and crypto.