Meta Eyes Stablecoin Comeback to Power Creator Payouts Globally

According to a report by Fortune, Meta is in early discussions with multiple crypto firms to facilitate global payments using stablecoins—blockchain-based digital assets pegged to fiat currencies like the U.S. dollar. This initiative is aimed at improving payout processes to creators, particularly those based outside the U.S., who face delays and high fees using conventional banking systems.

While Meta has not officially confirmed which stablecoin it may use or whether it plans to launch its own, insiders suggest that the company is seeking to integrate existing stablecoin infrastructure rather than build one from scratch. This would mark a major strategic shift from the Diem era, when Meta sought to establish a new global currency but was met with strong resistance from regulators and governments worldwide.

The current effort is being led by Ginger Baker, recently appointed Vice President of Product for Payments at Meta. Baker, who previously worked at fintech company Plaid and sits on the board of the Stellar Development Foundation, brings both regulatory insight and deep experience in cross-border financial technology.

Meta’s earlier foray into the stablecoin world began in 2019 with the launch of Libra, which later became Diem. Backed by a consortium of major companies, including Visa, Uber, and Coinbase, Libra aimed to create a global digital currency. However, mounting political and regulatory pressure forced Meta to scale back the project, ultimately leading to its sale to Silvergate Capital in 2022.

David Marcus, the former head of Meta’s blockchain efforts, later revealed that Diem was “a political kill, not a regulatory failure.” That sentiment reflects how much scrutiny the company faced, particularly from U.S. lawmakers concerned about Meta’s control over a global currency.

Today, the stablecoin landscape is markedly different. Major financial players like Mastercard, Visa, PayPal, and JPMorgan are all exploring or actively utilizing stablecoins in various capacities. Stablecoin supply has doubled in the past year, now totaling over $245 billion. USDT and USDC dominate the market, with USDT alone accounting for more than $150 billion in circulation.

Standard Chartered has projected that the total stablecoin market could grow to $2 trillion by 2028, driven by the rise of real-world asset tokenization, global remittances, and decentralized finance applications.

Meta’s stablecoin push is widely seen as a pragmatic step toward deeper Web3 integration. With tens of millions of creators generating content across Instagram, Facebook, and Threads, the company faces growing pressure to offer faster and more equitable payout systems. Stablecoins offer significant advantages in this context: instant settlement, 24/7 availability, and reduced transaction costs.

The strategy also aligns with Meta CEO Mark Zuckerberg’s broader vision of building out the metaverse—a virtual economy where digital transactions will be key. While Meta has faced setbacks in its metaverse ambitions, its financial infrastructure still plays a critical role in connecting users and developers globally.

Despite growing institutional acceptance of stablecoins, U.S. regulation remains unsettled. A bipartisan bill aimed at creating a clear regulatory framework for stablecoin issuers stalled in the Senate earlier this year. Concerns around consumer protection, financial surveillance, and systemic risk continue to dominate the conversation.

Nevertheless, analysts say Meta’s current approach—working with established, compliant stablecoin providers—may help it avoid the political blowback that doomed Diem.

While Meta’s plans are still in development, its reentry into the crypto sector underscores how much the landscape has evolved since 2022. Rather than attempting to control the infrastructure, the company appears content to plug into existing networks to deliver faster, borderless value to users.

If successful, the stablecoin initiative could set a precedent for other tech giants looking to enhance payment efficiency and global reach. It also signals that stablecoins, once viewed with skepticism, are rapidly becoming integral to the digital economy’s foundation.

As Meta proceeds cautiously but deliberately, industry observers will be watching closely to see how it navigates the regulatory waters—and whether it can finally fulfill the ambitious vision it first set out with Libra.