WhatsApp Has Launched Instant Cryptocurrency Payments in the U.S.
In a surprising turn of events, WhatsApp has decided to launch a cryptocurrency payment feature for limited users as of yet. The feature is currently only available in the United States and is made possible via Novi integration, which is a digital wallet service owned by Meta.
The pilot program will let WhatsApp users send and receive money "instantly, securely, and with no fees" using the Paxos Dollar (USPD) stablecoin, which is a value linked to the U.S. dollar.
The cryptocurrency payments in WhatsApp work similar to sending attachments in a conversation. Users can tap the + icon and then select Payment from the menu that shows up. Users who are paid this way receive USPD, which you can withdraw to a bank account, and it carries an equivalent value in U.S. dollars.
At the moment, WhatsApp has mentioned that there is no cap on the number of times the Novi system can be used to send and receive money through the app. Regardless of the frequency of use, there is no fee involved with keeping a balance in the Novi account or withdrawing it to a bank account, for that matter. Additionally, the inclusion of Novi in the chat platform has also no negative impact on the encryption of your messages.
The ability to send and receive cryptocurrency is limited to only several users in the U.S. starting today. However, Novi has detailed the whole thing if you wish to get acquainted with how things will work.