Facebook - News, Articles & Research

Company announcement/crypto

Silvergate confirms buy out of Facebook's Diem

Silvergate Capital Corporation (“Silvergate”) (NYSE: SI) today announced that it has acquired intellectual property and other technology assets related to running a blockchain-based payment network from the Diem Group (“Diem”), further investing in its platform and enhancing its existing stablecoin infrastructure.

01 February 2022

News/crypto

Meta considers selling off Diem assets as Zuckerberg's crypto ambitions crumble

Facebook is reportedly mulling the sale of Diem assets as regulatory pressure mounts against Mark Zuckerberg's cryptocurrency project.

26 January 2022

News/regulation

Major tech antitrust bill advanced by US Senate vote

The Senate Judiciary Committee voted 16-6 this week to advance a major tech competition bill, says CNBC.

21 January 2022

News/predictions

Starling pulls Facebook advertising; preps SaaS offering

Starling CEO Anne Boden says the bank has pulled all paid advertising on Facebook and Instagram until Meta tackles fraudsters advertising on its platforms. In her annual letter, Boden also confirms the planned launch of a Software as a Service (SaaS) proposition during 2022.

07 January 2022

News/crypto

Meta extends Novi payments trial to WhatsApp

Meta (formerly Facebook) has extended the pilot for its Novi digital app to WhatsApp, using a stablecoin to enable participants to send and receive money from within chats.

09 December 2021

News/payments

Facebook Messenger tests Split Payments feature

Facebook Messenger is testing a feature called Split Payments that lets users share the cost of bills and expenses from within a group chat.

03 December 2021

News/people

David Marcus quits Facebook

David Marcus has quit as the boss of Facebook parent Meta's fintech unit after leading a frustrating effort to launch the Novi digital wallet and its associated stablecoin Diem.

30 November 2021

News/payments

Facebook fintech unit rebranded as Novi

As part of its Meta rebrand, Facebook has renamed its financial services and payments group from F2 to Novi.

08 November 2021

News/regulation

US consumer watchdog probes Big Tech's use of payment data

The US Consumer Financial Protection Bureau (CFPB) has ordered Amazon, Apple, Facebook, and Google to hand over information on their payment system plans so that it can see how they gather and use customer data.

21 October 2021

News/crypto

Facebook pilots Novi, but without Diem

Facebook is launching a small pilot for its Novi digital app. However, it does not involve the Diem stablecoin, instead utilising the USDP (Pax Dollar) through partnerships with Paxos and Coinbase.

19 October 2021

News/crypto

BIS GM issues Facebook stablecoin warning

The rise of Big Tech and its incursions into payments through projects such as Facebook's Diem stablecoin, could concentrate market power and threaten financial stability, challenge bank business models, and fragment the monetary system, warns BIS general manager Agustín Carstens.

06 October 2021

News/crypto

Facebook's Marcus demands 'fair shot' for Novi payments

Facebook's digital wallet, Novi, could abandon the Diem stablecoin in favour of fiat money if regulators do not change their tune, says chief David Marcus in a blog in which he also confirms plans to move into other financial services.

18 August 2021