Meta Resumes Stablecoin Payments, Offers USDC Settlement Services to Creators
According to Fortune, Meta has quietly launched a stablecoin payment feature, offering select creators in Colombia and the Philippines the ability to receive payments in USDC on the Solana and Polygon networks. Creators can enter their third-party wallet addresses into Facebook’s payout platform to withdraw funds. Meta does not provide USDC-to-local-fiat conversion services and partners with Stripe to handle related tax filings.
According to Marc Boiron, CEO of Polygon Labs, the initiative is expected to expand to over 160 countries by year-end. This launch comes more than four years after Meta’s Libra project—later renamed Diem—was discontinued in 2022.