WhatsApp Launches Support For Cryptocurrency Payments

We've known that Meta (formerly known every bit Facebook) has been interested in cryptocurrency. The company had previously tried to launch its own cryptocurrency called Libra, simply due to various hurdles, information technology ultimately did not come to pass and was later renamed to Diem.

That existence said, it seems that Meta isn't giving up on its crypto plans merely yet considering WhatsApp, owned by Meta, has recently announced that they will be launching a cryptocurrency payment feature in the US of a pocket-size number of users (presumably this will roll out to more users in the time to come).

The payment system will be done through integration with Novi, a digital wallet owned by Meta, and will use the Paxos Dollar stablecoin which is tied to the US dollar, meaning that you can trade cryptocurrency with other users and not have to worry almost its price fluctuating unlike other cryptocurrencies like bitcoin and altcoins.

Users tin send and receive cryptocurrency payments like they would transport or receive media, and they can then afterwards withdraw their money to a bank where they will receive it in the equivalent value of the USD. At the moment there does not seem to be any fees associated with using the feature, and users volition be able to send and receive coin equally many times every bit they'd similar.

WhatsApp is no stranger to using its platform to transport or receive money. The service is available in other countries such as Bharat and Brazil, simply they use more traditional forms of money rather than crypto, then this would be a beginning for the company.

Filed in . Read more than nigh Cryptocurrency, Social Hit and Whatsapp. Source: macrumors

Source: https://www.ubergizmo.com/2021/12/whatsapp-support-cryptocurrency-payments/

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