Meta explores stablecoin payments targeting creators' cross-border earnings

Meta explores payment infrastructure based on stablecoin

According to informed sources, Meta is evaluating the possibility of using stablecoins as a means to manage cross-border payments. The tech giant is in preliminary discussions with several crypto asset companies to explore new ways to integrate blockchain technology into its platform.

The potential application scenarios discussed include payment for Instagram creators' earnings, where stablecoins may provide a lower-cost alternative to traditional fiat currency transfers. According to an executive from a crypto asset infrastructure company, Meta is currently still in the "learning and understanding" phase and has not yet identified specific stablecoin partners.

This is not Meta's first attempt to enter the cryptocurrency space. In 2019, the company launched a stablecoin project called "Libra" (later renamed Diem), aimed at building a global payment network backed by multiple fiat currencies. However, due to regulatory pressure from U.S. lawmakers, the project was ultimately forced to shut down.

It is worth noting that Ginger Baker, who joined Meta as Vice President of Product in January this year, is leading this new stablecoin project. Baker has a background in financial technology, previously worked at Plaid, and is currently a board member of the Stellar Development Foundation, responsible for overseeing the Stellar blockchain.

Meta's move comes as the U.S. government seeks comprehensive recognition and regulation of stablecoins. Recently, Fidelity Investments revealed that it is testing a stablecoin, while payment giant Visa plans to launch a fiat currency tokenization platform. Bank of America has also hinted at potentially launching its own stablecoin once the regulatory environment becomes clearer.

It is reported that Meta began engaging with crypto asset infrastructure companies as early as 2025, with initial discussions mainly focused on using stablecoins as a tool to reduce international payment costs. Several informed sources indicated that the focus is on micro-payments, particularly the payment needs of content creators and digital freelancers targeting the multinational market.

Meta CEO Mark Zuckerberg recently acknowledged the failure of the Diem project at a conference, but he also stated that despite the company's exit from certain areas due to premature layouts or encountering resistance, it will re-enter those promising markets. This statement may signal new attempts by Meta in stablecoins and blockchain technology.