Facebook Rebrands Wallet for Its Digital Currency
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Facebook is trying to stay away from the Libra project as much as possible. The popular social network has changed the name of its digital wallet from Calibra to Novi.

According to an official announcement, the newly-rebranded wallet will be managed by an independent subsidiary the Novi Financial. The name was inspired by the Latin words "novus" for "new" and "via" for "way", the company said.

Facebook Abandons Plan to Launch Global Digital Currency

Facebook claims the rebranding has not changed much of its long-term commitment to helping people around the world access affordable financial services.

"Whether you are sending money home to support the family members who supported you, or you are receiving money from your friends no matter where they are, the Novi wallet will make money work better for everyone," the company added.

iHodl earlier reported that the Libra Association announced new appointment of Robert Werner as its General Counsel.

Previously, Werner served at the highest levels of the US Department of the Treasury as the Director of the Financial Crimes Enforcement Network (FinCEN).

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