Meta has reentered the stablecoin market. 4 years after pulling the plug on an earlier try, the tech large has quietly rolled out digital foreign money payouts for choose creators in Colombia and the Philippines, in keeping with an replace to the tech large’s web site. The payouts can be found on the Solana and Polygon blockchain networks and use the stablecoin USDC.
Creators who go for Meta’s stablecoin payouts will likely be prompted to enter their third-party crypto pockets handle into Fb’s payout platform. Meta won’t supply providers to transform USDC into native currencies. Meta additionally partnered with Stripe for some crypto-specific tax reporting for the stablecoin payouts, in keeping with the webpage.
“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,” a Meta spokesperson advised Fortune.
A spokesperson for Stripe confirmed to Fortune that it’s working with Meta.
The rollout from Meta follows the tech large’s failed try and launch its personal stablecoin by way of a mission referred to as Libra (later rebranded as Diem), which the corporate deserted in 2022 after opposition from lawmakers and Congress. Final 12 months, the corporate started to reexplore stablecoins amid a extra favorable regulatory setting beneath President Donald Trump, Fortune beforehand reported. Meta put out requests for assistance on its stablecoin mission earlier this 12 months.
“The future of marketplace payouts is being built on blockchain infrastructure like Polygon,” Polygon Labs CEO Marc Boiron stated in an announcement shared with Fortune, including that Meta’s stablecoin payout program is predicted to increase to greater than 160 international locations by the top of the 12 months.
“Solana has emerged as the default place for internet-scale payments,” Solana Basis head of product Catherine Gu stated in an announcement shared with Fortune.
Stablecoin explosion
Meta is the newest main agency to combine stablecoins. Since early final 12 months, beneath the Trump administration, Massive Tech corporations like Airbnb, X, Apple, and Google have all explored how one can combine stablecoins into their funds expertise. However, following the 2025 passage of the GENIUS Act, which created a regulatory framework for dollar-backed stablecoins, main corporations have began to make particular strikes.
Shopify has begun permitting retailers to simply accept USDC funds, and Western Union simply introduced plans to supply a stablecoin on the Solana blockchain. DoorDash and the funds blockchain startup Tempo have begun working collectively on permitting DoorDash drivers to be paid in stablecoins.
Meta introduced its Libra mission in July 2019, initially pitching an open-source stablecoin backed by quite a few funds, tech, and enterprise capital corporations. The foreign money would have been obtainable to Meta’s billions of customers, a lot of whom had restricted entry to monetary providers, but it surely confronted intense regulatory scrutiny from the beginning. The mission wound down in 2022, across the similar time that Meta started pouring sources right into a digital actuality idea often known as the metaverse.
Issues look a lot rosier for Meta’s crypto efforts this time round, nonetheless, as the whole variety of stablecoins has elevated greater than a hundredfold for the reason that agency first introduced Libra.
Replace, April 29, 2026: This text has been up to date with feedback from Polygon, Solana, and Stripe in addition to particulars surrounding Meta’s Libra mission.
