Facebook renames its Calibra cryptocurrency wallet as Novi

Facebook’s virtual wallet for yet-to-be-minted Libra digital coins was renamed “Novi” on Tuesday.

The rebranding replaces the original name of “Calibra” for the Facebook digital wallet which would work with the planned virtual currency.

The Novi digital wallet set to launch when Libra coins debut promises to give Facebook opportunities to build financial services into its offerings, offer to expand its own commerce and let more small businesses buy ads on the social network.