Meta (META) Is Looking to Deploy Stablecoin to Manage Payouts: Fortune
05/09/2025 03:00
The tech giant reportedly have also hired vice president of product with crypto experience to help with the stablecoin efforts.
Meta Is Looking to Enter Red-Hot Stablecoin Market: Fortune
The tech giant reportedly have also hired vice president of product with crypto experience to help with the stablecoin efforts.
May 8, 2025, 7:58 p.m.
Tech giant Meta (META) is looking to introduce stablecoin to manage payouts, Fortune reported, citing five sources familiar with the matter.
Meta has also hired a vice president of product, Ginger Baker, who has crypto experience to help with its stablecoin efforts, Fortune said.
The company's foray back into crypto is worth noting, given that its 2019 blockchain project Libra, later renamed Diem, came to a crashing halt in 2022, after intense regulatory scrutiny.
If Meta goes through with this project, it will enter the sector at a time when stablecoins—digital tokens pegged to fiat currencies like the U.S. dollar—are becoming the hottest trend among crypto and TradFi firms.
Companies such as Ripple, Mastercard, Visa, Dutch bank ING and Stripe are all joining the stablecoin industry. In fact, Standard Chartered said the stablecoin market could grow by $2 trillion by the end of 2028.
Read more: Stablecoin Market Could Grow to $2T by End-2028: Standard Chartered
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's Head of Americas. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ADA, SOL, ATOM and some other altcoins that are below CoinDesk's disclosure threshold of $1,000.
