Facebook’s Digital Wallet Is Ready to Go Live, Getting Licensed in the US

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Today’s Headline

David Marcus, head of social giant Facebook Financial which oversees all of the company’s payments programs cleared the air by stating that, “Novi, the digital currency wallet, is ready to go live.” He further stated, “we have been licensed or approved in nearly every state in the United States. Until we get the proper licenses and meet local regulations and standards, Novi is unable to operate in specific jurisdictions and will therefore operate in a small number of countries or territories.” Novi will carry out thorough due diligence on customers before allowing them to create a new account. Part of the KYC requirements include authentication by uploading a government-issued ID. 

Bingbon Chart

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Bitcoin continues to cool down the market passion after multiple failed attempts at $50,000. Bitcoin tested lower support near $42,000 following a period of profit-taking yesterday. If BTC regains momentum and jumps close to $46,000, the bulls could then bring the first major resistance level at $46,500. However, if this significant resistance is not breached today, we will continue to see bitcoin slide to the last defense line at $42,500, as it is the last significant support level above $40,000.