Meta Explores Stablecoin-Based Payment Solutions
- Meta is planning a re-entry into the cryptocurrency sector, focusing on stablecoin-based payment solutions.
- The company is considering using stablecoins like Tether’s USDt and Circle’s USDC for payouts across its platforms.
- This move follows the shutdown of Meta’s previous blockchain project, Diem, in 2022 due to regulatory challenges.
- Ginger Baker, Meta’s new Vice President of Product, is leading discussions on the stablecoin project.
- Meta aims to enable cost-effective cross-border transfers with payments as low as $100 per transaction.
Meta is revisiting cryptocurrency with a focus on stablecoins for global payouts, following the closure of its earlier Diem project. The company has initiated talks with crypto firms and may use multiple stablecoins to facilitate low-cost transactions.
Source (2.6)https://coingape.com/mark-zuckerberg-plots-meta-return-to-crypto-with-stablecoin-strategy-report/?rand=24432
