Meta Explores Use of Stablecoins for International Creator Payments
Meta is exploring stablecoins to streamline international payments for creators. Key points include:
- Initiative discussions with crypto firms began earlier this year.
- Stablecoins like USDT and USDC could reduce payment fees and improve cross-border transactions.
- Using stablecoins may avoid costly wire transfers while ensuring stable payouts.
- Small creator payments around $100 on platforms like Instagram are being considered.
- Meta is hiring crypto specialists to support this initiative.
- No confirmation on launching a proprietary stablecoin; the effort recalls the halted Libra project from 2022.
- Meta continues to invest in metaverse technology through Reality Labs, which reported $5 billion in losses in late 2024.