Meta Rolls Out Stablecoin Payouts to Select Creators

Meta's latest move to support creators has seen the company roll out USDC stablecoin payouts to select creators in the Philippines and Colombia.

This marks a significant return for Meta, which attempted digital payments years ago under the name Diem. However, this time around, Meta is sidestepping much of the regulatory friction that doomed its previous attempt by using an already-regulated stablecoin – USDC.

According to reports, creators who sign up can link a third-party crypto wallet to Facebook's payout platform and receive funds directly on the Solana or Polygon blockchains. While this may seem like a significant step forward for creators, it is worth noting that Meta does not convert USDC to local currency – leaving creators who want cash to use an outside exchange.

The rollout is currently limited to eligible creators in the Philippines and Colombia, but expansion to more than 160 markets is expected soon. This move comes as part of Meta's efforts to improve creator earnings and provide faster settlement times for users outside the US.