The Novi site for the Whatsapp partnership says this:
> "When you add money to your Novi account, we convert it to USDP (Pax Dollar), a stable digital currency issued by Paxos Trust Company, a regulated financial institution. USDP is designed to have a stable value relative to the US dollar. So on Novi, 1 USDP is equal to 1 US dollar."
To me that implies it's done on chain...I guess it could just be in their centralized database though.
Curious what the Whatsapp UI does for moments when USPD hits $0.99 like December 1 2021 when it hit $0.989.
> "When you add money to your Novi account, we convert it to USDP (Pax Dollar), a stable digital currency issued by Paxos Trust Company, a regulated financial institution. USDP is designed to have a stable value relative to the US dollar. So on Novi, 1 USDP is equal to 1 US dollar."
To me that implies it's done on chain...I guess it could just be in their centralized database though.
Curious what the Whatsapp UI does for moments when USPD hits $0.99 like December 1 2021 when it hit $0.989.
Source: https://www.novi.com/WhatsApp