Meta has made a significant comeback in the stablecoin market, reintroducing digital currency payouts to select creators in Colombia and the Philippines. This move comes four years after the company abandoned its previous attempt with the Libra project, which was later rebranded as Diem. According to an update on Meta’s website, these payouts utilize the popular stablecoin USDC and are processed on the Solana and Polygon blockchain networks.
Creators choosing to receive payments in stablecoins will need to provide their third-party crypto wallet address through Facebook’s payout platform. However, it’s important to note that Meta will not facilitate the conversion of USDC into local currencies. In addition, the company has partnered with Stripe to assist with crypto-specific tax reporting for these stablecoin transactions.
A spokesperson from Meta shared insights with Fortune, stating, “We strive to offer the most relevant payment methods, which is why we are exploring how stablecoins could become part of our suite of options.” Stripe’s representatives confirmed their collaboration with Meta on this initiative.
This latest rollout aligns with Meta’s renewed interest in the stablecoin space, particularly following a more favorable regulatory environment initially observed during the Trump administration. The technology giant had put out requests for assistance in its stablecoin project earlier this year, signaling its commitment to this space after the previous setbacks faced during the Libra project. Once viewed with skepticism, the idea of stablecoins seems to be gaining traction, reflected in the recent regulatory changes under the passage of the GENIUS Act of 2025, which established a framework for dollar-backed stablecoins.
Industry leaders recognize the shift towards blockchain-based payment solutions. Polygon Labs CEO Marc Boiron expressed optimism about the future of marketplace payouts, stating that they are being built on blockchain infrastructures like Polygon, with expectations for Meta’s program to expand to over 160 countries by the end of this year. Catherine Gu, head of product at the Solana Foundation, pointed to Solana as a leading platform for large-scale internet payments.
Meta is joining a growing list of major companies exploring stablecoin integration. Since early last year, firms like Airbnb, X, Apple, and Google have been actively investigating ways to incorporate stablecoins into their payment systems. Shopify has also begun allowing merchants to accept USDC payments, while Western Union is working on offering stablecoin transactions on the Solana blockchain. Additionally, DoorDash is partnering with the payments blockchain startup Tempo to facilitate payments to drivers in stablecoins.
Originally announced in July 2019, Meta’s Libra project aimed to create an open-source stablecoin backed by a consortium of tech and venture capital firms. The initiative was envisioned to provide financial services access to its vast user base but faced substantial regulatory scrutiny almost immediately. Ultimately, the project was wound down in 2022 amid Meta’s pivot toward developing its metaverse concept.
Unlike its earlier attempts, Meta’s current venture into stablecoins appears to be taking place in a considerably more mature and expanded environment, with the number of stablecoins having increased remarkably since the initial announcement of Libra. This renewed interest marks an intriguing chapter in Meta’s journey within the cryptocurrency space, as it navigates a landscape that continues to evolve rapidly.
