• 103
  • 12
  • Favorite

Facebook Discloses Digital Wallet Plans

Benzinga2021-08-19

Facebook Inc (NASDAQ: FB) executive David Marcus announced the impending launch of Novi, the company's digital wallet, to tap into unbanked consumers and growing digitization due to the pandemic.

  • Facebook will integrate the digital currency wallet into Facebook apps.
  • The company aims to offer domestic and international payments free of cost with cheaper merchant payments to businesses.
  • Marcus also defended stablecoins and their wallets, citing more efficient detection of illegal activities than the traditional financial system.
  • Marcus added that stablecoins held 1:1 reserves in cash at U.S. banks and very short-term Treasuries for better consumer protections.
  • He also defended Facebook's digital currency plans.
  • PayPal Holdings Inc (NASDAQ: PYPL) and Fiserv Inc (NASDAQ: FISV) just partnered to facilitate direct paycheck remittance to Venmo wallet.
  • Paysafe (NYSE: PSFE) recently agreed to acquire payments platform SafetyPay.
  • FB Price Action: Facebook shares were down 0.8% at $355.45 at last check Wednesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment12

  • Alantronic
    ·2021-08-19
    Hi
    Reply
    Report
  • PowerTrade
    ·2021-08-19
    Like
    Reply
    Report
  • traderme
    ·2021-08-19
    Like pls
    Reply
    Report
  • JunHaoT
    ·2021-08-19
    Buy buy 
    Reply
    Report
    Fold Replies
    • traderme
      like
      2021-08-19
      Reply
      Report
  • BlueDragon
    ·2021-08-19
    Good and like
    Reply
    Report
    Fold Replies
    • JAMKKT
      Ok
      2021-08-19
      Reply
      Report
  • Joyvb
    ·2021-08-19
    must buy!!?
    Reply
    Report
    Fold Replies
    • Joyvb
      ya
      2021-08-19
      Reply
      Report
  • Issacwilson
    ·2021-08-19
    [強] 
    Reply
    Report
  • alleo888
    ·2021-08-19
    [微笑] 
    Reply
    Report
  • Ha0
    ·2021-08-19
    good morning
    Reply
    Report
    Fold Replies
    • Teslawonder
      like my dbs post for coins
      2021-08-19
      Reply
      Report
  • Darrencwj
    ·2021-08-19
    Like pls 
    Reply
    Report
  • TCRaN
    ·2021-08-19
    Nice
    Reply
    Report
    Fold Replies
    • HYHY1992
      Nice
      2021-08-19
      Reply
      Report
    • JBT
      Nice
      2021-08-19
      Reply
      Report
  • Basketrif
    ·2021-08-19
    Question is whether consumers will entryst facebook with such huge payment?
    Reply
    Report
    Fold Replies
    • Cloivette
      ?
      2021-08-19
      Reply
      Report
    • TCRaN
      ?
      2021-08-19
      Reply
      Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial