Meta has launched a stablecoin-based payment system that allows certain content creators to receive income in digital assets. In this first phase, the program will only be available to selected users in Colombia and the Philippines; USDCa stablecoin backed by Circle.
This initiative represents the company’s new attempt to integrate into the ecosystem.However, as reported by CriptoNoticias, the approach is different from previous projects such as Libra, later known as Diem. Instead of developing its own currency, Meta has now chosen to rely on an already integrated solution that has wide acceptance by regulators, thereby mitigating the risks it faced in the past.
Operating the system is relatively easy. Creators who want to receive payments in USDC must link an external digital wallet Compatible with Solana or Polygon networks within the Facebook payment platform. Once set up, you will be able to receive income directly from this stablecoin without going through traditional intermediaries.
However, Meta limits participation to the distribution of funds only. The company does not provide services to convert these assets into local currencyTherefore, users must rely on external exchanges or platforms to manage that process. This means creators take more responsibility for managing their funds and ultimately converting them into fiat currency.
On top of that, The company has established a partnership with Stripe, a technology and financial company. Managing the tax reporting-related aspects of these transactions is a key point in the ever-evolving landscape of digital asset regulation.
Taken together, this strategy signals Meta’s more cautious return to the cryptocurrency market, focused on specific use cases such as creator payments, and in line with current market conditions. The company is leaving open the possibility of expanding this system if adoption is positive.
(Tag Translation) Cryptocurrency
