WhatsApp has launched a new cryptocurrency payment pilot plan. This novelty allows a certain number of users in the US to send and receive money from a chat using cryptocurrencies. It is important to note that this function is powered by the Novi wallet, which is owned by Meta. It was launched within a pilot plan six weeks ago with payments through Pax Dollars (USDP), a currency linked to the US dollar.
How the payment with cryptocurrencies works
Using this new function is as simple as sending any other attachment on this platform. Therefore, you can access WhatsApp cryptocurrencies through the paper clip icon on Android or the + symbol on iOS. Finally, select “Payment” in the same menu of the app. On the other hand, Novi said there are no limits or standard fees for sending or receiving money. As well as there are no amounts to maintain your balance in your own account.
The new WhatsApp pilot has its roots in the cryptocurrency plans of Facebook , who is now Meta. These were announced in 2009, and at that time the idea was to develop and launch these types of coins under the name “Libra”. In addition, they said that it would be linked to a source of low volatility assets. This planning is intended to offer a way to send money around the world with lower rates than normal.
New feature availability
This pilot plan for cryptocurrencies on WhatsApp was initially available in the United States and Guatemala. However, WABetanInfo said that Guatemalan users will not be able to use the new payments feature. In exchange for that, they can just keep using Novi’s standalone app. Moreover, they also said that these payments do not affect WhatsApp’s end-to-end encryption. Also, it is available in the languages of English and Spanish at the moment.
Now, knowing that WhatsApp payment plans in the US revolve around Novi and its cryptocurrencies, it is not the same in other parts of the world. Others are governed by payments using traditional fiat currencies. What’s more, the function was widely deployed in India and Brazil last year. Similarly, it is important to emphasize that payments in this function are transferred instantly.
WhatsApp conclusion launches pilot plan with cryptocurrencies in the US:
This new marketing strategy to launch cryptocurrencies on WhatsApp will undoubtedly help simplify sending and receiving money among users. And, although it is still in a pilot stage, we know that Meta as a parent company will skimp on the smallest details so that its new function is used in the best possible way without harming third parties. Similarly, we hope that this feature will be rolled out in other countries to test its functionality.