Meta Reenters Stablecoin Market with USDC Payouts

Meta has quietly rolled out stablecoin payments four years after shelving its controversial Libra project. The tech giant is now offering digital currency payouts to select creators in Colombia and the Philippines, using the USDC stablecoin on Solana and Polygon blockchain networks.

The payouts are available through Meta's payout platform, which requires creators to enter their third-party crypto wallet address. However, Meta will not provide services to convert USDC into local currencies, leaving this responsibility to the creators or their wallets.

META has also partnered with Stripe for some crypto-specific tax reporting for the stablecoin payouts, as stated on its webpage.