Meta Explores Integrating Stablecoin Payments into Its Platforms

Tech company Meta is reportedly exploring integrating stablecoin payments into its platforms after a three-year hiatus from cryptocurrencies

Tech company Meta is reportedly considering integrating stablecoin payments into its platforms, sources told Fortune.

The Facebook parent, which previously explored cryptocurrencies in 2019 before halting the initiative, has been engaging with several crypto infrastructure firms regarding the addition of stablecoin payment capabilities to its platforms, according to the report.

One source said the company may take a multi-token approach and integrate support for popular stablecoins such as Tether’s USDt (USDT), Circle’s USD Coin (USDC) and others.

Meta is the latest tech firm to integrate or explore the use of stablecoins for payments, as they increasingly attract institutional interest and investment, causing the stablecoin market capitalization to soar past $230 billion.

Several payment processing companies announced investments into stablecoin companies or announced stablecoin integrations in May.

On May 7, payments giant Visa disclosed an investment in stablecoin startup BVNK. Although details of the deal are limited, Visa’s head of products and partnerships, Rubail Birwadker, highlighted the surging share of stablecoins in the payments market.

Additionally, global payments platform Stripe has introduced stablecoin-based accounts for customers in over 100 countries.

These accounts will enable users to accumulate balances in stablecoins, transfer the tokens to other users, and withdraw their stablecoin balances as fiat currency to traditional bank accounts.

World Liberty Financial (WLFI), a crypto firm backed by former US President Donald Trump, launched USD1, a US dollar-pegged stablecoin, in March. By May, USD1 was the seventh-largest stablecoin in terms of market capitalization, showcasing the rapid growth of the tokenized fiat market.

The Trump administration has repeatedly emphasized the strategic importance of stablecoins to the US.

However, plans for comprehensive stablecoin regulations were stalled on May 8 as Democratic Senators moved to block the GENIUS Stablecoin bill.

"The Senate missed an opportunity today to provide leadership by advancing the GENIUS Act. This bill represents a once-in-a-generation opportunity to expand dollar dominance and U.S. leadership in the emerging technologies that will define the 21st century. Democrats' actions today will ultimately serve to further concentrate the financial system and diminish the role of the U.S. dollar in the global economy. It's a huge missed opportunity for the American people," Treasury Secretary Scott Bessent said in a May 8 X post.