- Meta is holding early talks with crypto firms about stablecoins
- Focus is on cross-border payouts with lower fees
- New VP with crypto background is leading the initiative
In 2019, Meta initiated a high-profile cryptocurrency project aiming to develop a digital currency that could function across its platforms, including Facebook and WhatsApp. Despite the ambitious vision, the project was halted due to substantial regulatory pushback. However, recent developments suggest that Meta is gradually revisiting the crypto landscape, with a focus on stablecoins as a solution for global payments and creator payouts.
Meta revisits stablecoins after Diem
After shelving the Diem project in early 2022, Meta appears to be reconsidering its approach to blockchain and crypto payments. According to five sources familiar with the company’s current activities, Meta is holding discussions with several crypto infrastructure providers to potentially introduce stablecoins as a method for handling payments across borders. Stablecoins, often pegged to the U.S. dollar, offer a more stable and low-fee alternative for transferring money internationally. Unlike volatile cryptocurrencies, these coins aim to maintain a consistent value, making them more appealing for practical use cases like remittances and creator payouts.
Meta’s new crypto leadership signals renewed focus
In January 2025, Meta appointed Ginger Baker as Vice President of Product, bringing her fintech experience from Plaid and her role on the board of the Stellar Development Foundation. Her involvement underscores Meta’s renewed interest in digital payment technologies. A source close to the company noted that Baker is actively steering Meta’s stablecoin strategy, highlighting that her presence is not coincidental. The company’s interest in the technology is part of a broader effort to understand and test the feasibility of crypto in the current regulatory and market environment.
Stablecoins as a payment tool for creators
Meta’s current stablecoin discussions reportedly revolve around improving creator monetization tools on platforms like Instagram. One crypto executive explained that stablecoins could enable small-scale international payments—such as $100 payouts—to creators with fewer fees than traditional wire transfers or banking systems. Three sources confirmed that Meta has already reached out to multiple stablecoin infrastructure companies. These talks are still preliminary, but they indicate a strong focus on stablecoins as a more cost-effective way to handle microtransactions across global markets.
Meta and crypto agnosticism
Unlike its past attempt with Diem, which sought to launch its own stablecoin, Meta’s new approach appears more open. The company is likely to remain agnostic about which stablecoin it uses, showing no exclusive alignment with existing issuers like USDC from Circle. Industry executives confirmed early talks with Meta focused on leveraging existing stablecoin networks rather than creating proprietary solutions. This approach allows Meta to move faster and test functionality without the regulatory burden of launching a new token.
Meta’s history with Libra and Diem
The 2019 launch of Libra marked Meta’s first major foray into blockchain. Intended as a consortium of major companies, including Uber and PayPal, the initiative aimed to develop a stablecoin backed by a mix of global currencies. Due to strong backlash from U.S. lawmakers, Libra was rebranded as Diem before being ultimately discontinued in 2022. Meta later sold Diem’s assets to Silvergate, a bank known for its crypto-friendly stance. Several former employees from the Libra project have since launched independent blockchain projects. These include the founders of Aptos and Sui, blockchains that use the Move programming language developed internally by Meta.
Meta’s appearance at Stripe’s event
On a Tuesday event hosted by Stripe, Mark Zuckerberg addressed the failure of Diem directly. During an onstage discussion with Stripe cofounder John Collison, Zuckerberg stated, “That thing’s dead,” referring to Diem. He acknowledged that although Meta had often been early to tech trends, it sometimes had to fight its way back after setbacks. Zuckerberg’s remarks suggest a pragmatic shift in strategy—away from attempting to lead the crypto space directly and toward testing partnerships that make use of existing infrastructure.
Growing stablecoin momentum in the market
The current landscape for stablecoins has changed significantly since Diem. In recent months:
- Stripe acquired stablecoin startup Bridge for $1.1 billion.
- Visa announced a partnership with Bridge to integrate stablecoins into their payment systems.
- Fidelity is working on developing its own stablecoin.
- Stripe also launched new financial accounts powered by stablecoin infrastructure.
These moves indicate growing acceptance of stablecoins in traditional finance, a trend Meta seems ready to re-engage with.
Meta explores cross-border payments with stablecoins
Sources indicate that Meta is particularly interested in using stablecoins for cross-border payments. This interest aligns with broader trends in financial technology, where companies seek low-cost and fast alternatives to traditional wire transfers. By leveraging blockchain infrastructure, Meta could streamline international payments and reduce friction in markets where conventional banking services are less efficient or more expensive.
Circle’s involvement and industry partnerships
Matt Cavin, formerly with Immutable, joined Circle in March 2025. He is reportedly leading high-level partnerships with firms like Meta. Although his LinkedIn profile only mentions “tier-1 strategic partnerships,” insiders confirm that Meta is among the companies engaged in ongoing discussions. Circle, known for issuing USDC, is one of several entities Meta may collaborate with, though the company has not confirmed any exclusive partnership.
The long-term implications for Meta
Meta’s return to crypto, particularly stablecoins, suggests a long-term interest in integrating blockchain-based technologies without taking on the heavy regulatory burden that undermined Diem. Rather than trying to dominate the space, Meta now seems focused on supporting features that improve functionality for users and creators.
Conclusion
Meta’s reentry into the crypto ecosystem through stablecoins signals a more cautious and targeted approach than its original Libra initiative. By focusing on creator payouts and cross-border payments, and by collaborating with existing crypto infrastructure providers, Meta is positioning itself to participate in blockchain innovation without reigniting regulatory battles. With industry figures like Ginger Baker leading its fintech efforts and market developments driving broader stablecoin adoption, Meta is setting the stage for a more measured return to digital currency.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
