Facebook's cryptocurrency founder David Marcus: Novi wallet integrates NFTs, non-custodial wallet as the ultimate solution

Developing the digital currency wallet Novi and promoting the Metaverse is not enough for Facebook. The head of Facebook Financial, F2, mentioned in an interview that Facebook is considering launching NFT-related features and products, believing that the platform is in a very advantageous position for this.

Is Novi Development Ready?

David Marcus, the head of Facebook Financial's F2, in an interview with Bloomberg, reiterated that Novi wallet is very close to being released. Diem has obtained regulation in Switzerland and is currently in negotiations with U.S. regulators to obtain the necessary licenses.

The interviewer asked if Novi is fully developed and ready for launch. Marcus responded:

Novi is definitely ready for launch, as it has been in development for several years. It is not just an app, so it required a significant investment of time.

Regarding the public's trust in Facebook and their reluctance to entrust their finances to Facebook, Marcus explained:

I don't believe we deserve the public's trust, but we deserve an opportunity to regain it. Both WhatsApp and Messenger have proven that we can save users significant costs and alleviate the burden of international call charges that people could not afford in the past. I'm not asking for blind trust from the public, but only an opportunity to prove ourselves.

Metaverse Integration with NFTs

When discussing the integration of Novi with the Metaverse, David Marcus pointed out:

The Metaverse will be a completely digital environment, which is very conducive to product design. Novi will play an important role in it, but the Metaverse also includes smart contracts, programmable currency, and creators can create, rent, sell, and store NFTs on the platform. Any imaginable business model can be realized in the Metaverse, which is not possible with the current monetary system or without smart contracts.

Marcus: I'm a Bitcoin Fan

When asked about Twitter's founder actively adopting Bitcoin, Marcus replied:

I've been a fan of Bitcoin for a long time, but I don't think it's suitable as a medium of exchange. I think it's a great, low-correlation investment asset, but its high volatility doesn't make it a good payment currency. I like Bitcoin, but not for payments.

Facebook Stablecoin Delayed, Novi Wallet as the Final Solution without Diem

David Marcus also mentioned in the interview that despite Facebook's emphasis on being just a member of the stablecoin Diem project, the U.S. and several European countries have reservations about the project. Therefore, under heavy regulatory pressure, the launch of the stablecoin Diem remains uncertain.

David Marcus stated that Facebook will launch the "Diem-less" version of the digital wallet Novi as the final solution they are striving for. He believes that only with Diem combined with Novi wallet can users fully enjoy low-cost and efficient cross-border remittances.

As in the previously translated article by David Marcus, he reiterated in the Bloomberg interview that without more innovation in payments in the U.S., the country will always lag behind China in digital payments.