Meta Returns to Crypto with USD Coin Payouts for Creators

Meta has quietly returned to the world of cryptocurrency with a new pilot program that pays creators in Colombia and the Philippines using USD Coin (USDC). This move marks a significant departure from Meta's previous failed attempt at launching its own currency, Libra (later Diem).

The company is now using existing blockchain infrastructure to facilitate faster and more cost-effective cross-border payments. Creators in the pilot program receive payouts through Solana and Polygon, which are two popular blockchain platforms.

Meta's decision to use an existing stablecoin like USDC reduces regulatory pressure and allows the company to focus on improving payment services rather than reinventing money. This approach also enables creators to convert their USDC into local currency at a lower cost compared to traditional methods.