Meta Explores Stablecoins for Cross-Border Payouts

Meta is actively exploring the use of stablecoins for cross-border payouts as part of its renewed push into blockchain technology. The tech giant is in preliminary discussions with multiple crypto firms to evaluate stablecoins as a mechanism for managing cross-border payouts, particularly for use cases like creator payouts through Instagram. This move aims to offer a low-fee alternative to traditional fiat-based transfers, which can be costly and inefficient.

Meta's latest effort follows its previous high-profile but unsuccessful attempt to launch a stablecoin in 2019 under Project Libra, which was later renamed to Diem. The initiative was designed to support a global payments network backed by a basket of fiat currencies. However, the project ended due to regulatory pressure from US lawmakers, and Silvergate Bank bought Diem’s assets. This time, Meta is taking a more cautious approach, with one executive from a crypto infrastructure firm stating that the company is currently in “learn mode” and is not yet committed to a specific stablecoin provider.

Ginger Baker, who joined Meta in January as vice president of product, is reportedly leading the new stablecoin venture. Baker has previous experience in fintech through roles at Plaid and currently sits on the board of the Stellar Development Foundation, which oversees the Stellar blockchain. The initiative comes amid renewed interest in stablecoins as the US looks to fully recognize and regulate them as digital representations of the dollar. Fidelity recently revealed it is testing a stablecoin, while payments giant Visa is looking to launch a platform to tokenize fiat currencies. Bank of America has also hinted at plans to launch its own stablecoin once the regulatory environment is more certain.

Meta has initiated outreach to crypto infrastructure firms throughout 2025, with early conversations centered on stablecoins as a tool to reduce international payment costs. The focus is on small-dollar payouts, especially for content creators and digital freelancers operating across multiple markets. USDC’s issuer Circle has reportedly been in talks with Meta through Matt Cavin, a former executive at gaming blockchain startup Immutable who joined Circle in March. Meta CEO Mark Zuckerberg acknowledged Diem’s failure during an appearance at a Stripe conference, where he said the project was dead. Zuckerberg added that while Meta often leads in adopting new technologies, it has also been forced to re-enter markets where it was previously too early or met resistance.