Meta has begun offering select content creators the ability to receive earnings in USDC stablecoin directly to their crypto wallets on the Solana and Polygon blockchains. This marks Meta's first venture into cryptocurrency payments since discontinuing its Diem project.
The new system supports popular wallets like MetaMask, Phantom, and Binance, with Stripe managing the payment infrastructure. Currently, the feature is available only to creators in Colombia and the Philippines.
A Meta spokesperson clarified that the company is not issuing its own stablecoin but is utilizing Circle's USDC. "We strive to offer the most relevant payment methods, which is why we are exploring how stablecoins could become part of our suite of options," the spokesperson stated.
The choice of emerging markets for this test reflects a strategy to explore financial features where crypto adoption is strong. This move represents a shift from Meta's earlier ambitious but ultimately scrutinized cryptocurrency plans, including the Libra/Diem project. The broader interest in stablecoins among U.S. companies has increased significantly, with projections suggesting stablecoin trading volume could reach $1.5 quadrillion by 2035.