Once a tech titan that stirred significant waves in the cryptocurrency world before a quiet retreat, Meta is now reportedly poised for a powerful comeback. The company plans to re-enter the stablecoin market in the latter half of this year, signaling a renewed and strategic push into digital payments.
A Strategic Re-Entry: Leveraging Third-Party Expertise
Sources familiar with Meta’s plans, as cited by CoinDesk, indicate that the success of this ambitious venture hinges on Meta’s ability to seamlessly integrate with third-party payment companies to facilitate USD stablecoin payments. Unlike its previous attempt, Meta is adopting a more hands-off approach, actively seeking alliances with external suppliers to outsource the management of stablecoin payment services and launch a new digital wallet.
With over 3 billion active users across its powerhouse platforms—Facebook, WhatsApp, and Instagram—Meta aims to kickstart stablecoin integration operations as early as the beginning of the second half of this year. To achieve this, Meta has reportedly issued “Requests for Proposal (RFPs)” to several third-party companies.
Stripe Emerges as a Key Partner
Among the potential partners, global payment giant Stripe is considered the strongest candidate to lead Meta’s stablecoin initiative. Stripe’s strategic acquisition of stablecoin technology company Bridge last year, coupled with its long-standing partnership with Meta, strengthens its position. Furthermore, Stripe CEO Patrick Collison joined Meta’s board of directors in April 2025, further solidifying the relationship between the two tech titans.
Unlocking New Horizons: Payments, E-commerce, and Remittances
For Meta, the integration of stablecoins represents a significant strategic advantage. It promises to unlock new payment channels for its vast user base, bypassing the often-high cross-border transaction fees associated with traditional banking systems. This move could potentially propel Meta to a dominant position in social e-commerce and international remittances.
The Battle for Super App Dominance
However, this re-entry will plunge Meta into a fiercely competitive landscape. It sets the stage for a direct rivalry with Elon Musk’s X platform and the popular messaging app Telegram. Both companies are aggressively embedding payment functionalities into their platforms, driven by an ambitious vision to transform into comprehensive “Super Apps” that encompass a wide array of services.
Lessons from the Past: The Libra/Diem Saga
This isn’t Meta’s first foray into the stablecoin realm. Its original vision for Libra (later rebranded as Diem) in 2019 was to build a seamless digital financial empire, leveraging WhatsApp’s peer-to-peer communication services and the extensive social and business tools of Facebook and Instagram. However, the project faced intense backlash from U.S. politicians and regulatory bodies. An immature regulatory environment, compounded by the lingering shadow of the Cambridge Analytica data scandal, led to its eventual downfall.
Facing fierce scrutiny from U.S. congressional members, the “Libra Association” was compelled to compromise in 2020, abandoning its initial ambitious blueprint for a “global digital currency backed by a basket of fiat currencies.” Instead, it shifted focus to developing multiple stablecoins pegged to different currencies. Despite these concessions, Meta’s stablecoin project ultimately failed to launch, quietly shutting down and selling off its assets in early 2022.
A Transformed Regulatory Landscape
The current regulatory environment, however, presents a stark contrast to 2019. The U.S. landscape for cryptocurrencies has matured considerably, with various regulations gradually gaining clarity. Notably, the “GENIUS Act,” championed by former U.S. President Donald Trump, for the first time established a legal foundation for stablecoin issuers in the U.S., effectively opening the market for new entrants.
A Cautious Approach: Mitigating Future Risks
Learning from the failures of Libra/Diem, Meta is reportedly adopting a deliberately risk-averse strategy this time. Sources indicate a strong preference for relying on third-party stablecoin payment providers to manage operations. As one source put it, “They really want to do it, but they will deliberately keep their distance.” This cautious approach underscores Meta’s determination to succeed while navigating potential regulatory and operational complexities more effectively.
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