Instagram may become a stable currency test field: Meta layout creators small payments, aiming at Visa and traditional banking systems

Meta is exploring stablecoin-based payment infrastructure, discussing with crypto asset firms to assess using stablecoins for cross-border payments, particularly for Instagram creator revenue as a lower-fee alternative to fiat transfers.
The company is in a "learning and understanding" phase and hasn't selected a stablecoin provider yet, declining to comment on the discussions.
This follows Meta's failed 2019 stablecoin project, Libra/Diem, which was terminated due to regulatory pressure; its assets were acquired by Silvergate Bank.
Ginger Baker, Meta's VP of product with fintech and blockchain experience, is reportedly leading the new stablecoin initiative.
The move aligns with broader industry trends, as Fidelity, Visa, and Bank of America are also exploring stablecoins amid U.S. regulatory developments.
Early discussions focus on stablecoins for micropayments, especially for content creators and digital freelancers across multiple markets.
Circle (USDC issuer) reportedly negotiated with Meta, while CEO Mark Zuckerberg acknowledged Diem's failure but hinted at re-entering the market strategically.

Original source: cryptoslate

Compiled by: Blockchain Knight

Meta is exploring stablecoin-based payment infrastructure, in another effort to integrate blockchain technology into its platform, Fortune magazine reported May 8, citing people familiar with the matter.

The tech giant is reportedly in preliminary discussions with several crypto asset firms to assess the feasibility of using stablecoins as a means of managing cross-border payments.

The discussion involves use cases such as creator revenue payments on Instagram, where stablecoins can provide a lower-fee alternative to fiat-based transfers.

According to an executive at a crypto asset infrastructure company, Meta is currently in the “learning and understanding” phase and has not yet selected a specific stablecoin provider.

The company declined to comment.

Previous attempts

Meta’s latest move follows a high-profile but unsuccessful launch of a stablecoin called Project Libra (later renamed Diem) in 2019. The project aimed to build a global payments network backed by a basket of fiat currencies.

However, the project was terminated due to regulatory pressure from US lawmakers, and Silvergate Bank acquired Diem's assets.

Ginger Baker, who joined Meta as vice president of product in January, is reportedly leading Meta’s new stablecoin project. Baker has experience at fintech company Plaid and currently serves on the board of the Stellar Development Foundation, which oversees the Stellar blockchain.

Meta’s move comes as the U.S. seeks to fully recognize and regulate stablecoins, which are considered digital representations of the U.S. dollar.

Fidelity Investments recently revealed it is testing a stablecoin, while payments giant Visa plans to launch a platform to tokenize fiat currencies. Bank of America has also hinted that it plans to launch its own stablecoin once the regulatory environment becomes clearer.

Industry participation and personnel changes

Sources said Meta had begun contacting crypto asset infrastructure companies in 2025, with early discussions focusing on stablecoins as a tool to reduce international payment costs.

The focus is on micropayments, particularly for content creators and digital freelancers operating in multiple markets, according to three people with knowledge of the meetings.

USDC issuer Circle reportedly negotiated with Meta through Matt Cavin, a former executive at gaming blockchain startup Immutable who joined Circle in March this year.

Meta CEO Mark Zuckerberg acknowledged the failure of the Diem project during an appearance at a Stripe conference earlier this week, saying the project was dead.

Zuckerberg added that while Meta is often a leader in adopting new technologies, it has also had to re-enter markets that it had exited because it was in the market too early or encountered resistance.