Meta restarts stablecoin plan, focusing on cross-border payments for Instagram creators

Meta is re-exploring the application of Blockchain technology in the payment sector. According to reports, the tech giant is in preliminary discussions with several encryption asset companies to assess the feasibility of using stablecoins as a cross-border payment management tool.

This initiative mainly targets scenarios such as creator earnings payments on the Instagram platform, and stablecoins are expected to provide users with a lower-cost option compared to traditional fiat currency transfers. Currently, Meta is still in the research phase and has not yet determined specific stablecoin partners.

Meta previously launched a stablecoin project called "Libra" (later renamed to "Diem") in 2019, aimed at building a global payment network supported by multiple fiat currencies. However, due to pressure from U.S. regulators, the project was ultimately forced to terminate.

According to reports, Ginger Baker, the product vice president who joined Meta in January of this year, is leading this new stablecoin project. Baker has a background in fintech, having worked at Plaid, and is currently a board member of the Stellar Development Foundation.

Meta's move comes at a time when the U.S. government is seeking comprehensive recognition and regulation of stablecoins. Recently, several financial institutions have also shown interest in the stablecoin space. Fidelity Investments is testing a stablecoin, a certain payment giant plans to launch a fiat currency tokenization platform, and a large bank has also hinted at the intention to launch its own stablecoin once the regulatory environment becomes clearer.

According to reports, Meta began engaging with cryptocurrency infrastructure companies in 2025, with early discussions primarily focused on using stablecoins to reduce the cost of international payments. Several insiders revealed that the focus is on the micro-payment sector, particularly the payment needs of content creators and digital freelancers in multinational markets.

Meta CEO Mark Zuckerberg recently acknowledged the failure of the Diem project at a conference. He stated that although Meta often leads in adopting new technologies, there are times when it has to re-enter markets it left due to premature positioning or resistance.

This latest development shows that despite previous setbacks, Meta has not given up on exploring the Blockchain and encryption currency sectors, particularly in payment infrastructure. As the stablecoin market continues to evolve and the regulatory environment gradually clarifies, this move by Meta may bring new opportunities and challenges in the digital payment field.