Meta is once again pursuing the adoption of stablecoins as part of its broader effort to build a cryptocurrency-based payment system.
According to U.S. business magazine Fortune on May 8, sources revealed that Meta is currently in talks with various cryptocurrency companies regarding the introduction of stablecoins.
Although specific details have not been disclosed, it is reported that Meta is exploring a multi-token approach, aiming to support several major stablecoins simultaneously — including Tether’s USDT and Circle’s USDC.
Meta had previously launched its own stablecoin project, “Diem,” but the initiative was shut down in 2022 following regulatory conflicts. However, with the prospect of a crypto-friendly administration under Donald Trump potentially returning to power, Meta now appears to be reviving its interest in stablecoins.
The company is focusing on the key benefits of stablecoins — especially their ability to enable remittances and payments with low fees across a wide range of regions.
Recent discussions have involved Meta’s Vice President of Product, Ginger Baker, who joined the company in January. Baker is recognized for her expertise in cryptocurrency, fintech, and payment systems.
An executive at a cryptocurrency firm said, “In the case of Instagram, which is operated by Meta, introducing stablecoins could facilitate micro-payments of around $100 to creators across different markets, with lower fees compared to fiat currency.”
