Meta Revives Stabilcoin Payments Amid Regulatory Clarity

The Meta technology giant has quietly introduced stabilcoin payments for some content creators in Colombia and the Philippines. The move comes four years after the company abandoned its Libra project due to regulatory challenges.

The stablecoins are issued on the Solana and Polygon blockchain networks, and USDC is used as the stable currency. To receive these payments, content creators must provide their third-party crypto wallet addresses on Facebook's payment platform.

Meta has partnered with Stripe to handle tax reporting for cryptocurrency transactions related to stabilcoin payments. The company aims to make its services more flexible and convenient for users.