Would you buy things in Libra? Soon you will be able to.  Quite quietly last week digital currency might has gone mainstream.

A couple of weeks ago Facebook announced its updated shop program and this week even more importantly it introduced NOVI,  the wallet for its digital Libra currency.  We did mention last week that Facebook looked like it was trying to replicate WeChats product range but we didn’t realise how quickly these roll outs were going to come.  

At the moment you can only pre-register for the service and it is going to slowly be rolled out in select countries.  Interestingly it doesn’t sound like it is going to be anonymous as you will need a government issued ID to sign up for an account.  Although it will be an app in its own right, available in the Apple or Play store you will be able to use NOVI and the Libra currency in WhatsApp and Messenger to page friends, family or businesses.  The release mentions that the product is going to start life purely as a peer to peer payment system and overtime more merchant services are going to be rolled out.

It is designed so that you can instantly send money anywhere in the world, free of charge, as well as pay for everyday transactions.  It is currently unclear how this is going to be revenue generating as they don’t appear to be charging any fees.

Keep an eye on this – Facebook is making its completely own ecosystem online.