Calibra, Facebook's digital wallet subsidiary, has rebranded as Novi

Facebook's wallet subsidiary is getting a rebrand, according to an announcement from the company.

Once Calibra, the wallet built for the Facebook-created stablecoin network Libra will now be called Novi. When it launches, users will be able to access the wallet via a standalone app in addition to Facebook Messenger and WhatsApp integrations. 

The parent of the Novi wallet, called Novi Financial, is a subsidiary of Facebook that operates separately from the tech giant — just like Calibra was. Its forthcoming Libra-compatible wallet, which the firm said it hopes to launch along with the Libra Network, will feature a government-issued ID verification system and other fraud protections. "We’ll roll it out in an initial set of countries, with features that will make cross-border money transfers instant, secure, and with no hidden fees," the announcement stated.

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