Facebook Launches Novi
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Facebook launched Novi, a crypto payments app with a limited release in the US and Guatemala. Built on the Ethereum blockchain, it allows for zero fee cross border payments. These two countries were chose because 14% of Guatemala's GDP comes from remittances (non commercial transfers from abroad) and 90% of them come from the US alone. The current banking system requires high fees- taking money out of the pockets of those trying to send money back home to their families. Novi tackles that problem head on. Would love to hear from you. Rate, comment, subscribe on Apple Podcasts and for the video edition- YouTube. Follow me on Twitter & Instagram where I always post when a new show drops.
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