Social media giant Meta (META) is rolling out stablecoin payouts for creators on Facebook and Instagram, partnering with payments firm Stripe to enable transfers in USDC via the Solana or Polygon blockchains. The feature, initially available to a limited group of creators in Colombia and the Philippines, marks Meta's re-entry into crypto-powered payments after abandoning its Libra (later Diem) project in 2022 amid regulatory pressure.
Eligible creators can link a crypto wallet—such as MetaMask, Phantom, or Binance wallet—and receive payouts in USDC. Meta warns users to only use wallet addresses that accept USDC on Solana or Polygon, as funds sent to unsupported addresses cannot be recovered. Stripe will provide crypto-related reporting and tax documents tied to earnings and digital asset transactions, with a Stripe spokesperson confirming the company's involvement.
The initiative follows a report from CoinDesk in February that Meta was seeking third-party vendors to administer stablecoin payments, with Stripe among the leading contenders. Meta's move places it among the largest tech firms experimenting with stablecoins for real-world payments, leveraging blockchain rails to move money globally without traditional banking systems. Stablecoins, whose value is tied to fiat currencies, are increasingly viewed as a faster and cheaper payment method. Visa, for example, reported that its stablecoin settlement network hit $7 billion in annualized transaction volume, growing 50% in a quarter.
Meta advises creators to keep both their Meta payment history and Stripe records for tax filings, noting that they may receive crypto-related reporting from Stripe. The company suggests that creators can then convert USDC into their local currency. This development was first reported by The Information.
