Meta partners with Stripe to launch USDC creator payouts, rolling out first in Colombia and the Philippines

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According to the official website, Meta is partnering with Stripe to test USDC payouts for creators in Colombia and the Philippines, supporting Solana and Polygon. This marks a return to cross-border stablecoin payment initiatives following the failure of Libra. (Previous coverage: Meta spends billions to tie up with Amazon AWS! Snapping up hundreds of thousands of Graviton5 chips to counter NVIDIA's AI computing monopoly) (Background: Zuckerberg reportedly ranks last at Meta for AI token usage, even demands employees talk to his AI avatar) Social media giant Meta (META) is re-entering the cryptocurrency payment space. Meta has begun offering "stablecoin" payout options to select creators on Facebook and Instagram. This signifies a renewed attempt by Meta to leverage blockchain technology to optimize platform payment processes, years after its "Libra" project was aborted due to regulatory pressure. Partnering with payment giant Stripe, the first phase launches in Colombia and the Philippines. According to Meta's official website, this feature is currently only open for testing to a small number of creators in Colombia and the Philippines. Eligible users can connect their cryptocurrency wallets and receive USDC stablecoins issued by Circle via the Solana or Polygon networks. This service is technically supported by payment company Stripe. Stripe will process cryptocurrency payouts through its "Link" payment service and provide users with relevant tax and transaction reporting. According to a report by The Information, Jay Shah, the head of Link at Stripe, confirmed: "Businesses can now send stablecoin payouts directly to customers via Link, and we are working with Meta to enable creators in these regions to receive stablecoins directly in their Link wallets." Moving past the shadow of Libra With over 3 billion users globally, this experiment marks a significant move by a major tech company to explore how stablecoins can be utilized for "real-world" payments. Compared to relying on traditional banking systems, stablecoins offer advantages such as faster transaction speeds and lower fees, making them a highly potential financial tool, especially for cross-border payments. This initiative is significant for Meta. Years ago, Meta attempted to launch a global stablecoin project called "Libra" (later renamed Diem), but it faced severe scrutiny from regulators in multiple countries and was ultimately shut down and its assets sold off in 2022. Today, by choosing to partner with third-party providers like Stripe, Meta is bypassing the risks of issuing its own tokens and directly integrating into the existing stablecoin ecosystem to regroup and challenge the digital payment market once again.

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