It is not a new piece of news now that Facebook has changed its name to Meta, and all subsidiaries such as WhatsApp, Instagram, or any other app or software that was being controlled by Facebook would now fall under the guidance and management of Meta. WhatsApp has signed up for a new crypto integration program that is only active in the United States. The app will be checking out the integrity and validity of sending crypto payments to other contacts via chat. It is going to achieve that by using the company’s wallet called Novi and one of the stablecoins by the name of Pax dollars.
This pilot program has only been enabled for a limited number of users in the United States, and if the initial rollout is successful, only then will it go global. The idea behind this integration is that people can send money to any contact, like right from their WhatsApp. This program right here is making crypto payments accessible and convenient to all. It is merely a pilot program and nothing permanent, but it is also a way for Meta to tell us that it will not back down on taking on more crypto initiatives in the future.
The working model for this program is that people could just type in the amount of money they want to send to someone by tapping the Novi wallet icon hovering over the chat they see at the moment. There they can enter the amount of money they want to send, confirm the details and just send the money to whatever chat or contact they want to. At present, it is assumed that it will be a feeless model, and people would also be able to connect their debit cards with the system.
It is really something and is taken as a unique opportunity that is being given to the people because it will make sending money to others as easier as they are sending a text or message via WhatsApp. As for the security of this whole thing or how successful it is, or it could be, further research needs to be done, and only then it will hit a global rollout.