The feature is now available to creators in Colombia and the Philippines, according to a post in the tech giant’s Business Help Center.
“Meta now offers USDC stablecoin payouts via supported crypto wallets on the Solana and Polygon blockchain networks,” the post said. “To receive these payouts, you must use a wallet that accepts USDC on one of these networks.”
The new feature was flagged in a report Wednesday (April 29) by CoinDesk, which characterizes it as a signal that Meta has returned to crypto-powered payments years after shutting down its Libra project.
According to the report, the service is supported by Stripe, which is providing crypto-related reporting for users. Creators may receive tax documents from both Meta and Stripe tied to their earnings and digital asset transactions.
“Businesses can now send stablecoin payouts directly to customers using Link,” said Jay Shah, who heads Stripe’s customer checkout service Link. “We’re already partnering with Meta so their creators can receive stablecoins in their Link wallets in countries like the Philippines and Colombia.”
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The news outlet had reported in February that Meta was considering reentering the stablecoin payment space and was seeking a partner to help facilitate those transactions.
The Facebook owner had in 2019 launched a stablecoin project named Libra — later re-branded as Diem — and cancelled three years later following pushback from regulators and lawmakers.
In other stablecoin news, PYMNTS wrote last week about the way the tokens are at a place in their history like the one seen in early internet media, where MP3s “made music portable and shareable,” but also allowed for greater piracy and disrupted business models.
“Stablecoins are at a similar inflection point. They have proven that money can move as seamlessly as data, but they have also exposed the vulnerabilities of an open, transparent system,” the report said.
“Just as the music industry eventually evolved toward controlled distribution models — streaming platforms with rights management and monetization — financial systems are now grappling with how to retain the benefits of digital-native money while mitigating its risks.”
Research by PYMNTS Intelligence has shown that while more than 4 in 10 (42%) middle market companies have at least discussed stablecoins, just 13% report actual use.
“Still, nearly half of CFOs say that integration with major banks would make stablecoins more relevant to their operations, while 67% point to regulatory and compliance uncertainty as a key hurdle to overcome,” PYMNTS added.
