Meta, which recently rebranded from Facebook, has strengthened its commitment to a new digital ecosystem, as it embarks on a small-scale pilot, which allows cryptocurrency transactions over WhatsApp.
The trial will take place in Guatemala and the US, however, the global tech giant has mapped out ambitions of it becoming a global offering, as it focuses on providing deeper digital financial inclusion.
It’s an offering that capitalises on the collaboration between WhatsApp and Novi, which is the group’s digital wallet.
In a statement announcing the WhatsApp partnership, Novi said: “Being shut out of the global financial system has real consequences for people’s lives, and it’s often the most underserved people who pay the highest price.
“Costs are high and waits are long when people want to send money to their families internationally. The current system is failing them, and there is no digital financial architecture to support the innovation we need.”
It comes off the back of a decision from Meta, to allow marketing for digital currencies and NFTs, as it deepens its embracing of digital assets and their growth.