Published July 26, 2021, 8:47 AM
In May 2020, Facebook introduced Novi a digital wallet that people may use to send and hold Diem (formerly known as Libra) digital currency. Diem is a blockchain-based payment system created by the social media giant planned at being implemented as a cryptocurrency.
According to a Facebook blog post, Novi originated from the Latin words “novus” (meaning “new”) and “via” (translated as “way” in English) denoting that is it the new way to send money, and its visual identity and design represent the fluid movement of digital currencies. The company also included a nod to the Libra icon in the brand logo to show its commitment to the Libra Network.