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Meta to shut down digital wallet Novi amid crypto crash

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Facebook parent Meta has announced it will shut down its digital wallet for cryptocurrency, Novi, on September 1, 2022, barely a year after it started the project.The product didn't even make it to a full launch, closing its doors at pilot stage.

Meta said the Novi app and its integration with WhatsApp will no longer be available and users will not be able to sign in to their accounts after the expiry date.The move coincides with the mayhem in the cryptocurrency  space, with prices crashing to new lows.It also said that from July 21, users will not be able to add currency to the wallet and "strongly advised" users to withdraw their money.Customers in the US and Guatemala can withdraw the money and get it in their bank accounts.

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