The Meta’s company has taken a step towards Crypto through the WhatsApp Crypto Payment test feature. Moreover, piloting is limited to a few people in the United States.
Presently, the new test allows the users to send and get money within chats in Cryptocurrency form. WhatsApp Crypto payments are basically backed by Novi Meta’s Digital Wallet that was announced last month. Actually, the initial one to announce the news was Novi’s incoming head Stephane Kasrie, and then WhatsApp’s head- Will Cathcart.
It should be noted that Novi does not charge a fee if someone receives, sends or stores crypto in their wallet. In addition, there is no limit to the number of transactions.
WhatsApp is currently offering payments in traditional currencies in other countries.
While this feature is on a trial time, if the WhatsApp crypto payments remains for a long time, it will compete with other money transfer programs like Zelle, Venmo and Cash app.
Anyway, so far, Novi has not used cryptocurrencies such as Bitcoin or ETH. This only works with Paxos’ Stable Coins, that are valued in US Dollars. And one dollar is the equivalent of a Paxos.
In addition, New York-based Paxos Trust exports US Pax dollars.
