Meta has begun rolling out stablecoin payouts to select creators in Colombia and the Philippines, allowing them to receive earnings in Circle’s USDC token via crypto wallets on Solana or Polygon in the company’s first blockchain-based payment initiative since the Diem Association sold its assets in 2022.
- Meta launches USDC payouts for creators in Colombia and the Philippines using the Solana and Polygon blockchain networks.
- Circle's USDC token, with a $77 billion market cap, replaces Meta’s failed Diem project previously sold for $182 million.
- Integrating stablecoins allows Meta to bypass traditional banking friction while transferring infrastructure risks to third-party providers like Stripe.
A Quiet Return After Diem’s Collapse
The rollout marks Meta’s reentry into cryptocurrency-powered payments after a high profile failure. The Diem Association, which Meta helped found to build a global stablecoin, announced in January 2022 that it was winding down operations and selling its intellectual property and technical assets to Silvergate Bank for approximately $182 million .
The project, originally announced as Libra in June 2019, faced sustained opposition from global regulators over monetary sovereignty, financial stability and privacy concerns . Meta shut down its Novi digital wallet that September, effectively closing the chapter on its first attempt at building proprietary payment infrastructure.
David Marcus, former head of the project, said in a 2024 post on X that the effort ended after Treasury Secretary Janet Yellen signaled opposition, calling it “100% a political kill” .
This time, Meta is not building its own stablecoin. In a recent interview, a Meta spokesperson shared that the firm is “not issuing a Meta stablecoin” and is instead tapping Circle’s USDC, the second-largest stablecoin with a market capitalization exceeding $77 billion .
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👉 Submit Your PR“We strive to offer the most relevant payment methods, which is why we are exploring how stablecoins could become part of our suite of options,” the spokesperson said .
How the Payment System Works
The feature is currently available to a limited group of creators in Colombia and the Philippines, according to a Meta support page. Eligible users can link a compatible third-party wallet, such as MetaMask, Phantom or Binance, to their Facebook payout account and receive earnings in USDC on either the Solana or Polygon networks .
Payments firm Stripe provides the technical infrastructure for the integration and handles crypto-specific tax reporting. A Stripe spokesperson confirmed the company’s involvement, noting that creators may receive tax documents from both Meta and Stripe tied to their earnings and digital asset transactions .
The selection of Colombia and the Philippines reflects a strategy of testing financial features in emerging markets where crypto adoption often outpaces traditional banking infrastructure, according to analysts cited by Yahoo Finance .
Meta is not offering an off-ramp for creators who want to convert USDC into local currency. Recipients must move their stablecoins to a third-party exchange to cash out .
Regulatory Context and Industry Implications
The launch follows the 2025 passage of the GENIUS Act, which established the first U.S. federal framework for dollar-backed stablecoins. The regulatory clarity unlocked a wave of consumer-firm integrations.
Shopify began allowing merchants to accept USDC payments. Western Union announced plans to launch its USDPT stablecoin on Solana. DoorDash partnered with Tempo, the Stripe-incubated stablecoin chain, to pay merchants and Dashers across more than 40 countries .
Stablecoins are increasingly viewed as a faster and cheaper method for cross-border transactions. Visa reported that its stablecoin settlement network reached $7 billion in annualized transaction volume, growing 50% in a single quarter .
Meta’s support page includes a warning to creators about the risks. “Inherent risks exist with the use of cryptocurrency, including stablecoins, that are not controlled by Meta,” the company states . It also advises creators to only use wallet addresses that accept USDC on Solana or Polygon, noting that “funds sent to an unsupported address or network cannot be recovered” .
The Polygon team celebrated the integration on X, writing: “With off-ramps in 150+ countries, our Open Money Stack expands financial access and improves how creators receive and use earnings globally” .
Chain Street’s Take
Meta avoided the regulatory traps that sank the Libra project. The firm abandoned the role of a global finance protagonist in favor of a narrower, tactical strategy. By adopting existing stablecoins on established blockchains, Meta bypassed the oversight barriers that forced the collapse of its previous payment initiatives.
The company now functions as a high-velocity distribution layer rather than a central bank. Creators in Colombia and the Philippines gain immediate utility: faster settlements without the friction of traditional banking. Meta’s integration of USDC, Solana, and Polygon carries institutional weight that no crypto-native startup matched alone.
Adoption remains the primary metric for success. Should creators integrate these payment rails into their daily workflows, the move potentially accelerates mainstream stablecoin usage faster than any previous effort in the sector. Meta no longer attempts to reshape global finance; the firm simply builds the infrastructure to capture the value flowing across it.
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