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You Won’t Believe Meta’s Next Move in the Crypto World! Stablecoins for Instagram Creators?!

BBG News

Well, well, well. It seems Meta, once again, wants to dip its toes into the ever-complicated world of cryptocurrency. After dabbling in blockchain and getting promptly kicked in the shins by regulators, they’re eyeing stablecoin payments for Instagram creators. Because who wouldn’t want to get paid in digital magic beans? 💰✨

On May 8, five sources who are definitely “in the know” (probably wearing turtlenecks and sipping expensive coffee) whispered to Fortune that Meta is in early talks with crypto infrastructure firms. These talks are reportedly focused on stablecoins—yes, those digital currencies that aren’t quite volatile enough to make you lose your lunch every time they get mentioned.

Apparently, Meta is considering a multi-token approach, which basically means they’re just going to sit back, relax, and let the stablecoins battle it out like a digital version of the Olympics. The frontrunners? USDT and USDC. Because, when in doubt, go with the big names, right?

The main goal here is to reduce transaction fees and streamline payments across the globe. Imagine—cross-border payments without having to wait for your money to travel through three time zones and a Bermuda Triangle. Talk about convenience!

But hold your horses—this is still in the “learning mode” stage. You know, like when you sign up for a new hobby but have no idea if you’ll actually stick with it. Sources said Meta’s crypto efforts are still very much in the “let’s see what happens” phase. No guarantees yet that you’ll see your next payout in stablecoins anytime soon. 😬

On the other hand, they did hire Ginger Baker as Vice President of Product. Ginger, who’s like the superhero of fintech and blockchain (seriously, her resume is the stuff of legends), is helping shape Meta’s stablecoin initiatives. So, maybe they’re not totally winging it. Maybe.

This whole stablecoin adventure is Meta’s attempt to forget their ill-fated Libra project, which was supposed to be a global digital currency but crashed and burned faster than you can say “regulatory nightmare.” Remember that? The project, later rebranded as Diem, wanted to be the future of money. Unfortunately, political pushback and regulatory resistance gave it a swift boot to the curb. By 2022, Meta was like, “Forget it, let’s sell this dumpster fire to Silvergate.” 🔥

Since then, stablecoins have made a comeback. They’re now the darlings of fintechs and institutional players, especially in the U.S. Under the Trump administration, they became so important to U.S. financial strategy that it was almost like they were the country’s new best friend.

And speaking of stablecoin action, Stripe recently rolled out stablecoin-based financial accounts in over 100 countries, proving that the stablecoin revolution is here to stay—unless, of course, the U.S. Senate gets in the way.

Speaking of which, the U.S. Senate just voted against advancing the GENIUS Act, a bill that would have set up a federal framework for stablecoin regulations. Because what says “forward progress” more than a failed vote? Washington, ladies and gentlemen, where things are always in “debate mode” until the cows come home.

So, in conclusion: Meta’s crypto adventure continues to be a never-ending saga, with a dash of optimism, a sprinkle of caution, and a whole lot of waiting to see if anyone can make it work. Stay tuned, folks—this one’s far from over.

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2025-05-09 09:25

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