Meta Eyes Stablecoin Integration for Enhanced Payments
meta might be planning a comeback in the cryptocurrency world. According to five sources close to the matter, the tech giant is exploring stablecoin payments for its platforms, including Instagram. This move could revolutionize how creators get paid.
Executives are considering a multi-token strategy, staying open to various stablecoins like USDT and USDC.The goal is to find cost-effective and easy-to-integrate options for global markets.Stablecoins could lower transaction fees and simplify cross-border payments, especially in regions where traditional systems are slow or costly.
However, these discussions are still in the early stages. Meta is currently in a “learn mode,” gathering data and assessing possibilities. To support this initiative, Meta hired Ginger Baker as Vice President of Product. Baker, with extensive fintech and blockchain experience, is shaping Meta’s stablecoin plans and connecting with crypto partners.
Meta’s interest in stablecoins follows its failed Libra project, which faced regulatory hurdles. As then, stablecoins have gained traction among fintechs and institutions. Companies like Stripe and visa are also investing in stablecoin technology.
Despite growing corporate adoption, the U.S. Senate recently voted against the GENIUS Act, a bill aimed at regulating stablecoins. The vote fell short, highlighting the ongoing debate over stablecoin regulation.
