Meta, the technology giant known for Facebook, WhatsApp, and Instagram, is reportedly planning to enter the stablecoin market later this year, provided it successfully integrates a third-party firm dedicated to facilitating payments using a dollar-pegged token. According to sources familiar with the plans, the company aims to begin the stablecoin integration process early in the second half of 2023.
To manage these stablecoin-backed payments, Meta is looking to collaborate with a vendor and introduce a new digital wallet. One insider revealed that the company has issued a request for proposals (RFP) to third-party firms, with Stripe identified as a potential partner for piloting Meta’s stablecoin initiative. Stripe, a payment processing powerhouse that acquired stablecoin specialist Bridge last year, has a longstanding partnership with Meta. Notably, Patrick Collison, CEO of Stripe, joined Meta’s board in April 2025.
The introduction of stablecoins could enable Meta to leverage its extensive user base to facilitate payments while circumventing traditional banking costs. This strategic move may position Meta as a frontrunner in “social commerce” and cross-border remittances, creating a direct competitive landscape with platforms such as Elon Musk’s X and Telegram, both of which are pursuing in-house payment systems to evolve into “super apps.” This endeavor echoes the initial ambitions of the Libra project, which sought to transform how transactions are conducted across Meta’s vast network through services like WhatsApp’s peer-to-peer messaging and the commerce tools of Facebook and Instagram.
Meta’s previous attempt to launch the Libra stablecoin, later rebranded as Diem, faced significant obstacles in 2019, primarily due to a challenging regulatory environment and the fallout from the Cambridge Analytica scandal. The backlash from U.S. lawmakers led the Libra Association to scale back its vision by 2020, shifting focus to multiple stablecoins pegged to various currencies instead of a singular global digital currency.
Ultimately, the Libra/Diem project never officially launched, culminating in its dissolution and the sale of its assets in early 2022. However, the current regulatory landscape in the U.S. is evolving, with several initiatives underway that seek to establish clearer frameworks for stablecoin issuers. The GENIUS Act, proposed during the Trump administration, is notable for laying the groundwork for U.S. stablecoin regulations, albeit the regulatory process is still in its nascent stages.
In light of these past experiences, Meta plans to adopt a more cautious approach by relying on a third-party provider for stablecoin payments this time, maintaining a level of separation in its operations. According to one source, the company is keen on proceeding “at arm’s length” as it re-enters the stablecoin arena.
