STABLECOINS | Meta Rolls Out USDC Stablecoin Payments via Stripe for Selected Content Creators

Meta Platforms has begun paying some content creators using a dollar-pegged stablecoin in a pilot program supported by payments firm, Stripe, marking its latest push into digital payments after past regulatory setbacks.

The company is offering payouts in USDC, a stablecoin issued by Circle, with transactions running on the Solana and Polygon blockchains, according to reports.

The feature is being rolled out initially to selected creators in countries, including Colombia and the Philippines, where traditional cross-border payouts can be slow or costly.

Payments are processed through Stripe’s infrastructure allowing creators to receive funds directly in crypto wallets which can later be converted into local currency via exchanges.

The move underscores Meta’s shift toward partnering with external providers rather than issuing its own cryptocurrency following the collapse of its earlier Libra (later Diem) project amid regulatory opposition.

Stablecoins, which are designed to maintain a fixed value typically pegged to the U.S. dollar, have gained traction for cross-border payments due to their speed and lower costs compared to traditional banking rails.

Meta is expected to expand the stablecoin payout option to more users and markets over time, potentially leveraging its billions of users across Facebook, Instagram and WhatsApp to scale digital payments globally.

Stay tuned to BitKE on stablecoin updates from across the globe.

Join our WhatsApp channel here.

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

___________________________________________