US-based tech company Meta is reportedly exploring integrating US dollar-pegged stablecoins for user payouts on its various social media platforms.
The Facebook parent held talks with several crypto infrastructure firms in consultation but has not chosen a decisive course of action, according to the report. One source said the company may take a multi-token approach and integrate support for popular stablecoins such as Tether's USDt ( Meta is the latest tech firm to integrate or explore the use of stablecoins for payments, as they increasingly attract institutional interest and investment, causing the stablecoin market capitalization to soar past $230 billion.
Several payment processing companies announced investments into stablecoin companies or announced stablecoin integrations in May this year.. Although details of the deal remain scant, Visa's head of products and partnerships, Rubail Birwadker, said stablecoins were commanding an ever-greater market share of payments. The accounts allow users to store stablecoin balances or transfer the tokens to other users and withdraw the stablecoin balances as fiat currency to traditional bank accounts."The Senate missed an opportunity to provide leadership today by failing to advance the GENIUS Act. This bill represents a once-in-a-generation opportunity to expand dollar dominance," Treasury Secretary Scott Bessent wrote in a May 8 XBitcoin options could pave the path for new BTC price highs — Here is how
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