• 9 May 2025
• |
• 04:00

Meta is preparing a renewed push into the cryptocurrency sector, this time focusing on stablecoin-based payments, following the high-profile shutdown of its former Diem (formerly Libra) project.

According to Fortune, Meta is in active discussions with multiple crypto companies to explore solutions for paying content creators, especially on platforms like Instagram.

The move marks Meta’s first significant return to crypto in three years, after the Diem initiative collapsed under regulatory pressure despite backing from major industry players.

Meta’s new plan centers on low-fee, small-value transactions—particularly cross-border payments under $100—aimed at enabling seamless financial support for creators across regions. One source told Fortune that stablecoins would be used to reduce friction and costs, which remain significant hurdles in international creator economies.

While discussions are ongoing, Meta is reportedly in an exploratory phase, remaining open to different providers rather than committing to a single stablecoin issuer.

In January, Meta brought on Ginger Baker, a fintech and crypto veteran, as VP of Product. Baker previously served on the board of the Stellar Development Foundation and held leadership roles at Plaid, a major financial infrastructure firm. Her hiring signals Meta’s renewed seriousness about building crypto-native products that comply with current financial frameworks.

During an appearance at the Stripe Sessions conference this week, Meta CEO Mark Zuckerberg publicly reflected on the Diem project’s failure, calling it “dead.”

“It’s not always great to be first,” Zuckerberg admitted, adding that while Meta may have been early with Diem, the company remains confident in its ability to re-enter markets and adapt successfully.

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