(Coindesk) Facebook has tapped Paxos and Coinbase for the piloting of a digital wallet Novi in the US and Guatemala. The pilot, already live, is being rolled out gradually on Apple App Store and Google Play Store.
Coinbase is expected to offer custody services for the program, as Paxos supplies the stablecoin that Novi will use.
Users will start trading the Paxos Dollar or USDP once the pilot program starts. Users can buy USDP via Novi, while Novi will deposit the funds with Coinbase.
Facebook still maintains that it intends to launch Novi with Diem upon regulatory approval.
Facebook announced the Novi launch with Diem in June 2019. The wallet was meant to support the then-Libra stablecoin.
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