Last week, Meta (NASDAQ:META) began paying its content creators in USDC, a dollar-backed Stablecoin, through crypto wallets on the Solana (CRYPTO: SOL) and Polygon (CRYPTO: POL) blockchains. This is one of the most consequential moves in the history of digital payments.
The program is currently available to a limited group of creators in Colombia and the Philippines.
But Meta is not stopping there. The Stablecoin payout program is expected to expand to more than 160 countries by the end of the year.
Before you miss this quiet but powerful update, let me explain why it could reshape the global financial landscape.
The Lesson Meta Learned From Its $182 Million Crypto Failure
To understand why this is a big deal, you need to understand where Meta came from.
In 2019, Meta, then called Facebook, announced Libra, a stablecoin backed by assets, big companies, and accessible to billions of Facebook users worldwide. Due to several reasons, this project eventually shut down in 2022.
So, this re-entry isn’t new, and a lot of investors might be tempted to dismiss it. However, by taking a closer look at history, you would spot a huge difference between the move in 2019 and this current pivot.
With Libra, Meta tried to be the bank, issuing its currency, controlling the rails, and sitting at the center of global finance. That wasn’t successful.
But this …
Full story available on Benzinga.com
