Meta Eyes Stablecoins for Global Payouts – BTC Might Surge Past $100,000

Meta is in talks to integrate stablecoins for faster, cheaper creator payments across its platforms. Tech Giants Join Stablecoin Race

Meta, the parent company of Facebook, Instagram, and WhatsApp, is reportedly planning to add crypto support to its 3 billion users and exploring ways to integrate cryptocurrency into its offerings, according to the latest reports from Fortune.

The company is in talks with crypto firms to introduce stablecoins for cheaper, cross-border creator payouts on its platforms, the report noted.

The report comes after Circle, the issuer of the USD Coin (USDC) stablecoin, recently hired Matt Cavin to lead discussions with Meta and other tech giants on potential partnerships.

The development comes as major tech companies like Meta are making a push into crypto, following a wave of positive news and growing interest in the market.

Earlier this week, it was reported that Trump’s crypto advisor, David Sacks, said a “Trump boom” is coming for the crypto market as concerns about the U.S. dollar deepen.

The startup CEO and former advisor to the 45th president of the U.S. claimed that the administration of President Biden is quickly realizing the importance of cryptocurrencies due to geopolitical and macroeconomic trends.

The news comes as the cryptocurrency market continues to heat up, with Bitcoin (BTC) price surging past $100,000 following a recent surge in price.

The world’s leading cryptocurrency has been on a tear lately, not necessarily because of anything Bitcoin-related, but rather because of a series of events that unfolded in the past few months.

Earlier this year, we covered how a perfect storm of events might send Bitcoin price to $1 million by 2025. Since then, most of the events unfolded exactly as we predicted.

The good news just keeps coming for Bitcoin as we transition into the second half of 2024. As a final note, it appears that we might have one more catalyst that could be fueling the Bitcoin bull run.

According to the latest reports from Fortune, Mark Zuckerberg’s company is planning to integrate crypto support for its 3 billion users and exploring ways to include cryptocurrency in its offerings.

The social media giant is still recovering from the shutdown of its 2019 attempt to launch the Libra-Diem digital currency, which was ultimately scuttled by regulators.

The report claims that Meta is in talks with crypto companies to introduce stablecoins for cheaper, cross-border creator payouts on its platforms like Instagram.

The company is also interested in using Circle’s USDC stablecoin for these payouts, highlighting the company’s initiative to integrate crypto into its offerings.

In other developments, Circle recently hired Matt Cavin to spearhead conversations with Meta and other tech giants about potential partnerships.

The move comes as Circle is aiming to expand the adoption of USDC, especially among major institutions and platforms.

The report also mentions that Tether’s USDT, the leading stablecoin, generated $13 billion in profit for the company last year, sparking competition from companies like PayPal and Bank of America to create their own dollar-pegged stablecoins.

In a related development, Mena stated that Visa partnered with the stablecoin infrastructure provider Bridge to enhance its crypto capabilities last month, while Fidelity is working on developing its own stablecoin.

Zuckerberg recently spoke at a Stripe conference, where the payments company announced plans to expand its stablecoin initiatives using technology from its recent Bridge acquisition.

Arnoud Star Busmann, CEO of Quantoz Payments, added that Meta’s massive ecosystem will accelerate the use of stablecoins as a better payment method.

“We’re also seeing a shift in regulatory landscape, especially in the U.S., with lawmakers working on regulations to provide clarity on cryptocurrencies, which could further boost the stablecoin market.”

The report concludes that the integration of stablecoins into Meta’s platforms could be a game-changer for the company and the crypto industry as a whole.

With over 3 billion users across its platforms, Meta could quickly become a major player in digital finance if it decides to leverage its massive user base for crypto.

Moreover, Meta’s interest comes as several non-crypto companies are jumping into the stablecoin domain, especially with lawmakers working on new regulations to bring clarity to the market.