Tech giant Meta Platforms (NASDAQ: META) is in active talks to launch its own stablecoin, intended to handle digital payments within its ecosystem. According to Fortune, which cites five informed sources, the company is considering a digital token model pegged to a fiat currency (specifically the US dollar), with the possibility of integrating it into its main platforms: WhatsApp, Instagram, and Facebook Pay.
Meta's renewed interest in crypto assets is accompanied by changes in personnel. This week, the company appointed Ginger Baker, a specialist with extensive experience in crypto and formerly an executive in blockchain startups, as vice president of products. Her appointment signals Meta's serious intentions to regain a prominent position in the crypto market.
Key events of the day
Today, 9 May, Meta held a closed-door meeting with representatives of US financial regulators and major investment banks in Washington. They discussed the possibility of launching a 'hybrid stablecoin', combining elements of decentralised governance with regulated control mechanisms, adapted to the regulations of different countries. Participants also addressed implementation timeframes and strategies to mitigate risks related to cross-border transactions and regulatory compliance.
According to inside information, Meta is considering strategic cooperation with World Liberty Financial, an organisation associated with the launch of the discussed USD1 token. It is recalled that the USD1 project sparked public and political debate after former US President Donald Trump's statements on possible support. This partnership could potentially provide Meta with a ready-made compliance infrastructure and help accelerate regulatory approvals in key markets, making the collaboration strategically significant in an environment of increasing regulatory scrutiny.
Background and outlook
Meta's return to the crypto market comes against the backdrop of growing interest in stablecoins from both crypto companies and traditional financial institutions (TradFi). Visa, Mastercard, Ripple, ING and Stripe have already announced their own developments in this area.
Market analysts also speculate that Meta's move could trigger a new wave of competition and innovation in the payments industry, especially among Big Techs aiming to create proprietary financial ecosystems. With over 3 billion users on its platforms, Meta could immediately offer stablecoin-based transactions to a large global audience, gaining a significant advantage in user adoption.
According to a recent report by Standard Chartered, the stablecoin market could reach $2 trillion by the end of 2028. However, Meta is moving in a difficult regulatory environment: this week, the US Senate once again postponed debate on a bill to regulate the issuance and use of stablecoins, citing the need to finalise provisions related to consumer protection and political risks.
If Meta can strike a balance between innovation and legal transparency, the new stablecoin could represent the most important step towards the mass adoption of digital currencies in the global economy.
