Meta Launches USDC Stablecoin Creator Payouts on Solana and Polygon via Stripe

Meta has begun allowing contented creators to receive earnings successful USDC stablecoin straight to their crypto wallets connected Solana and Ethereum scaling web Polygon, marking the societal media company's archetypal foray into cryptocurrency payments since abandoning its Diem project successful 2022.

The crypto outgo strategy supports fashionable wallets including MetaMask, Phantom, and Binance, with Stripe serving arsenic the payments supplier to grip the method infrastructure. Only creators successful Colombia and the Philippines are presently eligible for stablecoin payouts.

When reached by Decrypt, a Meta spokesperson emphasized that the steadfast is “not issuing a Meta stablecoin.” Instead, the institution is tapping Circle’s USDC, the second-largest stablecoin with a marketplace headdress of implicit $77 billion.

“We strive to connection the astir applicable outgo methods, which is wherefore we are exploring however stablecoins could go portion of our suite of options,” the spokesperson added.

The geographic enactment reflects Meta's strategy of investigating fiscal features successful emerging markets wherever crypto adoption often outpaces accepted banking infrastructure.

Meta's stablecoin adoption represents a strategical reversal from its earlier crypto ambitions. The institution shut down its Libra project, aboriginal renamed Diem, successful 2022 aft facing aggravated regulatory scrutiny. Stablecoin involvement among U.S. companies has grown substantially since past year’s signing of the GENIUS Act, which regulates the dollar-pegged crypto tokens.

Chainalysis projects stablecoin trading measurement could reach $1.5 quadrillion by 2035, reflecting increasing assurance successful integer dollar outgo rails among accepted concern players.