The integration of Novi with WhatsApp could help Meta with the U.S. peer-to-peer payments and cryptos. According do to Insider Intelligence forecasts, US P2P payments are expected to reach $1 trillion in transaction volume by next year. This could allow WhatsApp to leverage it for its US user base.
Cryptocurrencies are gaining wide adoption. In a Mastercard report earlier this year, the company found that 40% of global consumers planned to use cryptocurrencies in 2021. There was a tone of crypto-linked cards launched this year, and this might suggest that crypto payments might soon become mainstream. Meta could take advangate of this by using its WhatsApp service — to benefit from the crypto frenzy and push Diem to receive wider adoption on its launch.
The United States is making heavy regulations on cryptocurrencies and digital assets. Recently, executives from major crypto exchanges testified before Congress to defend the opportunities that cryptos could offer. With proper regulation, crypto payments could become safer.
