Novi uses digital currencies to enable you to send money abroad instantly, securely and without fees. When you send and receive money with Novi, you use Pax Dollar, a digital currency that has the acronym “USDP.”
When you add money to your Novi account, we’ll convert it to a digital currency, which can be exchanged for cash in your local currency.
To start, Novi uses USDP (Pax Dollar), a digital currency which runs on secure blockchain technology.
When you send and receive money, you’ll use USDP, a stable digital currency issued by Paxos Trust Company, a regulated financial institution. On Novi, 1 USDP is equal to 1 US dollar. Novi converts USDP to your local currency so you can transfer it to a bank account or pick it up in cash when you need it. Withdrawal options may vary by country.
Novi uses digital currencies that run on blockchain technology to make sending and receiving money instant and automated.
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