Meta Re-Enters Crypto Space with Stablecoin Payout Plan

Meta (NASDAQ: META) is reportedly exploring the use of stablecoins to streamline payouts, according to a Fortune report citing multiple sources familiar with the matter. The tech giant has also hired Ginger Baker, a former crypto executive, as its new vice president of product to lead the initiative.

This move signals Meta's renewed interest in digital assets, years after its failed attempt with the Libra project—later rebranded as Diem—which was ultimately shelved in 2022 amid regulatory pressure. The company’s re-entry comes at a time when stablecoins—blockchain-based tokens pegged to fiat currencies like the U.S. dollar—are gaining traction across both the crypto and traditional finance (TradFi) sectors.

Stablecoins have emerged as one of the most promising applications of blockchain technology due to their potential for faster, lower-cost global payments. Industry heavyweights including Visa, Mastercard, Stripe, Ripple, and Dutch bank ING are already active in the space. Standard Chartered recently projected the stablecoin market could expand by $2 trillion by 2028.

Despite the momentum, regulatory uncertainty looms large. A U.S. Senate vote to begin debating a proposed stablecoin bill fell short on Thursday, revealing concerns over consumer protection measures and legal ambiguities. The issue has taken on added complexity with former President Donald Trump reportedly backing World Liberty Financial’s USD1 stablecoin.

Meta's push into stablecoins could place it at the heart of this rapidly evolving sector, offering it a strategic foothold in the future of digital payments—if it can navigate the regulatory landscape that previously derailed its crypto ambitions. As more tech and finance giants enter the stablecoin race, Meta’s latest move may signal the start of a second wave of corporate crypto adoption.