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08.11 - 17:37
Facebook pilots Novi, but without Diem
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finextra.comThe Pax Dollar will be used for transactions, with Coinbase acting as the custody partner.Explaining the decision to use USDP for the pilot, Novi head David Marcus says "we can test our systems with a stablecoin that has been operating successfully for over three yeas and that has important regulatory and consumer protection attributes".However, Marcus says that "our support for Diem has not changed" and that "we intend to migrate Novi to the Diem payment network once it received regulatory approval".The Diem project has faced a series of setbacks and stiff opposition from financial regulators since it was first unveiled two years ago under the Libra name.The current iteration of the project involves the issue of a single stablecoin pegged
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