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The Block: Facebook's Novi Is Seeking Cooperation With Third-party Stablecoin Provider Due To Regulatory Pressure

Mary Liu

Summary: According to an exclusive report from the crypto media The Block, due to the uncertainty surrounding Diem and its USD stablecoin, Facebook's crypto unit Novi is seeking to cooperate with a third-party stablecoin provider. While exploring options beyond Diem, Novi spoke with Circle and Paxos.  Four months ago, Novi said that Silvergate would become its exclusive publisher, ...

According to an exclusive report from the crypto media The Block, due to the uncertainty surrounding Diem and its USD stablecoin, Facebook's crypto unit Novi is seeking to cooperate with a third-party stablecoin provider. While exploring options beyond Diem, Novi spoke with Circle and Paxos. 

Four months ago, Novi said that Silvergate would become its exclusive publisher, but sources said that Diem has encountered new regulatory resistance.

By Mary Liu

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Link: The Block: Facebook's Novi Is Seeking Cooperation With Third-party Stablecoin Provider Due To Regulatory Pressure   [Copy]
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