Facebook has renamed its Calibra digital currency wallet to Novi and will allow users to send and receive funds via WhatsApp, Messenger or as a stand-alone app, according to a blog post by David Marcus, head of Novi. 

There will be no charge to send, receive or withdraw money and funds will arrive instantly.

Novi customers will be confirmed using government-issued ID and additional fraud protections will be installed in the app. 

An early version of Novi will be available when the Libra network is available. Facebook plans to make it available in an initial set of countries and cross-border payments will be available.