Meta · Fortune Technology
Meta quietly launches stablecoin payments four years after demise of controversial Libra project
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Meta has reentered the stablecoin market.
Key facts
- The future of marketplace payouts is being built on blockchain infrastructure like Polygon,” Polygon Labs CEO Marc Boiron said shared with Fortune, adding that Meta’s stablecoin payout program
- But, following the 2025 passage of the GENIUS Act, which created a regulatory framework for dollar-backed stablecoins, major companies have started to make definite moves
- Solana has emerged as the default place for internet-scale payments,” Solana Foundation head of product Catherine Gu said shared with Fortune
- Meta announced its Libra project in July 2019, initially pitching an open-source stablecoin backed by several payments, tech, and venture capital firms
Summary
Creators who opt for Meta’s stablecoin payouts will be prompted to enter their third-party crypto wallet address into Facebook’s payout platform. “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 told Fortune. A spokesperson for Stripe confirmed to Fortune that it’s working with Meta. The rollout from Meta follows the tech giant’s failed attempt to launch its own stablecoin through a project called Libra (later rebranded as Diem), which the company abandoned in 2022 after opposition from lawmakers and Congress.