Facebook Picks Coinbase to Support Its Novi Wallet

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Coinbase is helping Facebook launch its latest cryptocurrency project Novi, a digital wallet. The product launched early Tuesday morning and Coinbase – one of the world’s most popular digital currency exchanges – was hired to assist with the logistics of the wallet.

Coinbase Is Facebook’s Knight in Digital ArmorThe social media giant is offering a batch of varying digital currencies to users that will be stored on Coinbase. These assets are available to anybody who signs up to take part in the early testing of the Novi wallet. Following the news, stock in Coinbase rose by as much as two percent.

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The product is designed to help people send and receive digital money no matter where they are in the world. The wallet will undergo a short period of testing in both the United States and Guatemala before being released to the public. All transactions are alleged to be fully secure and will not incur any fees.

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