<p>Facebook is ready to launch a digital wallet that would let users store cryptocurrencies, a senior company executive said in a US media interview Wednesday.</p>.<p>David Marcus, head of Facebook's crypto unit, told The Information news site that company leaders "feel pretty committed" to launch the digital wallet called Novi this year.</p>.<p>Marcus said he would have preferred to release Novi alongside Diem, a digital currency tied to the dollar that the company is also developing, but Diem's timing was uncertain.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/technology/can-facebook-make-virtual-reality-happen-for-real-this-time-1023629.html" target="_blank">Can Facebook make Virtual Reality happen for real this time?</a></strong></p>.<p>"In theory, Novi could launch before Diem, but it would mean launching without Diem and that's not necessarily something that we want to do," Marcus told The Information.</p>.<p>"It all depends on how long it's going to take for Diem to actually go live and that's not something I'm personally looking after."</p>.<p>In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra. The project however faced regulatory resistance over concerns about security and reliability.</p>.<p>In December 2020 the Libra changed its name to Diem and moved its operations from Switzerland to the United States as part of a "strategic shift."</p>
<p>Facebook is ready to launch a digital wallet that would let users store cryptocurrencies, a senior company executive said in a US media interview Wednesday.</p>.<p>David Marcus, head of Facebook's crypto unit, told The Information news site that company leaders "feel pretty committed" to launch the digital wallet called Novi this year.</p>.<p>Marcus said he would have preferred to release Novi alongside Diem, a digital currency tied to the dollar that the company is also developing, but Diem's timing was uncertain.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/technology/can-facebook-make-virtual-reality-happen-for-real-this-time-1023629.html" target="_blank">Can Facebook make Virtual Reality happen for real this time?</a></strong></p>.<p>"In theory, Novi could launch before Diem, but it would mean launching without Diem and that's not necessarily something that we want to do," Marcus told The Information.</p>.<p>"It all depends on how long it's going to take for Diem to actually go live and that's not something I'm personally looking after."</p>.<p>In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra. The project however faced regulatory resistance over concerns about security and reliability.</p>.<p>In December 2020 the Libra changed its name to Diem and moved its operations from Switzerland to the United States as part of a "strategic shift."</p>