Facebook-led digital currency project, Libra will rebrand one of the project’s original features, the Calibra wallet that will be home to the planned Libra currency. Calibra will now be known as Novi.
The new name and logo were unveiled Tuesday by David Marcus, board member of the Libra project, and will be followed a release of the Novi wallet as soon as the Libra mainnet goes live in the coming months.
Novi comes from the combination of two Latin words, novus = new, and via = way. Novi will offer a new way to send, receive, and secure Libra currencies. Since Novi is designed for the Libra network, there’s a nod to Libra in our logo. 2/3
— David Marcus (@davidmarcus) May 26, 2020
Libra will go on
After what has turned out to be a year-long tussle with regulators and its earliest partners, the latest rebrand and news around Libra suggests that the project will finally be allowed to launch, albeit with a notable difference from its original design.
In March, Coinfomania reported that Libra was set to redesign the project so that the network can accept multiple currencies, including those issued by Central banks. That step understandably was a deliberate attempt to persuade concerned regulators and rebuild momentum for the plan, which was initially to create one global currency.
Therefore, it is unsurprising that as part of today’s announcement, Novi is specifically described as a wallet that will offer a new way for users to “send, receive, and secure Libra currencies.”
Meanwhile, it is worth recalling that David Marcus had told the U.S Congress that the project would not launch without the approval of the necessary regulatory bodies. As it stands, the project appears reengineered to fulfil that promise and thus could launch in the months ahead.