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Tech giant Meta Platforms Inc reportedly has plans to launch yet another dollar-backed stablecoin to support digital payments for its products.
Sources close to the project said Meta will work with a third-party vendor to integrate the stablecoin and its wallet into Meta’s ecosystem in the early second half of this year. The company has already put forward a product request (RFP) to several third-party firms, but might lean on payment service provider Stripe for the project.
Source: CoinDesk
Notably, Stripe broadened its reach into the crypto industry by acquiring the stablecoin specialist Bridge last year. The firm’s CEO, Patrick Collison, has been a member of Meta’s board of directors since April 2025.
Meta joins other social platforms in providing payment services
Similar to Meta, Telegram, and X (formerly Twitter) are taking part in incorporating digital currency payments to their social sites. Telegram already has a functional system while X is transitioning from internal testing to its first external beta. Effectively, these projects would position the companies as top social commerce providers, supporting cross-border remittances and bypassing the costly and time-consuming traditional banking process.
Even more, Meta would create an added revenue source from its 3 billion users through platform charges or transaction fees. Just a month ago, the company reported Q4 2025 revenue of a staggering $59.89 billion, which was a 24% year-over-year increase.
Source: Meta Pree Releases
Meta’s stablecoin history
Back in 2019, Meta developed Libra, a fiat-backed stablecoin with the same objective of providing a social payments system. In 2020, the coin was rebranded to Diem in an effort to gain regulatory approval, but concerns over data privacy and financial stability still prevailed.
In 2022, Meta abandoned the project, selling its intellectual property rights to Silvergate Bank for $182 million. In the same year, Meta shut down its digital wallet Novi, which underperformed due to its link to the Diem stablecoin. News of the new stablecoin comes amid the drafting of regulatory frameworks for the same, under President Donald Trump’s GENIUS Act. Still, Meta prefers to test the waters once more through an external provider, with one of the sources saying:
They want to do this, but at arm’s length.