Background: The Zuck never sleeps, does he? We know Facebook has been busy working BTS on a stablecoin called Diem (i.e. a crypto that's pegged to an external asset, like the USD).

What happened: Now, FB is preparing to launch a digital wallet called Novi. Novi is the equivalent of your physical wallet - but in digital form. It can hold all your digital cash (in this case, your Diem). Cool, huh?

What else: But they're facing a lil bit of push back from regulators (story of Facebook's life). So, they'll just need to convince regulators they're not trying to destabilise the entire global financial system.

So what's the key learning?

💡 Facebook's been facilitating digital payments for years, but they haven't really been trying to make money out of it.

💡But lately, a lot of their moves are actually about innovating in the digital payments space - like building out shopping on their platforms and building out the meta-verse with their Horizon Workspace.

💡With Diem and Novi, Facebook can actually start to monetise payments with their own products. They'll start by launching free peer-to-peer payments next year. But once they've established the product, then they can start facilitating paid transactions between people and merchants. And watch the money pile up, 50 cent-style.