RATE Group | Calibra’s Rebrand to ‘Novi’: An Effort to Create Distance from Facebook?
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Calibra’s Rebrand to ‘Novi’: An Effort to Create Distance from Facebook?

29 May Calibra’s Rebrand to ‘Novi’: An Effort to Create Distance from Facebook?

Posted at 13:05h in Cryptocurrency News by

 

Earlier this week, Facebook announced that it would be renaming its ‘Calibra’ wallet initiative to ‘Novi’. The announcement comes not so long after Libra unveiled Libra 2.0, a newer version of the global cryptocurrency project that is believed to have been designed to have greater regulatory appeal.

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Though Calibra has always been separate from both Facebook and the Libra cryptocurrency project itself, the wallet was widely considered to be an important component of Libra, which was launched last June.

The digital wallet firm that was slated to provide custody options for Libra token holders formerly known as ‘Calibra’ is henceforth to be known as ‘Novi’.

Why did the rebrand happen? In a Facebook post on the name change, David Marcus–the head of the Libra project–stated in a Facebook post that the primary reason for the new name was that “the old name was a little too close to the…

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