From Calibra to Novi
The social media giant Facebook has rebranded its cryptocurrency wallet Calibra by giving it a new name that is Novi. The Calibra digital wallet will now be known as the Novi Wallet. Users can access the rebranded wallet through a standalone application apart from using Facebook Messenger.
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The new name “Novi” is derived from two Latin words ‘novus’ meaning ‘new’ and ‘via’ meaning ‘way’. The company says in the announcement made on May 26, 2020 that the Novi wallet is a new way to send money. Though the company has changed the name of its Calibra wallet it has not made any changes to its long-term commitments and its mission to help people across the whole world. Announcing the Novi wallet to users, the company says that the Novi wallet will make their money work better for them.
“Whether you’re sending money home to support the family members who supported you, or you’re receiving money from your friends no matter where they are, the Novi wallet will make money work better for everyone.”
The company assuredly states in the announcement post that users of the Novi wallet will not be charged with any kind of hidden fees when they send, receive, deposit, or withdraw their money. Moreover, the company says that all of the transfers will arrive within no time.
To create a distinction between Libra and Calibra
The basic purpose of the company behind introducing a new name to its digital wallet is that the company wants to avoid confusion that occurs between Libra and Calibra. People get confused between these two as they sound similar.
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Therefore, the company has rebranded the Calibra wallet as the Novi wallet to make a clear distinction between its digital currency Libra and its digital wallet Calibra which is now known as Novi. A representative from Novi stated:
“When we announced Libra and Calibra last June, we wanted to demonstrate that Calibra, the digital wallet, was closely linked to Libra, the global payment system. Both brands were born out of the same vision, to give people more access to the global economy. However, we’ve found that Calibra and Libra sounded too similar and people were getting confused, so we set out to create distinction between the two.”
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