"Meta now offers USDC stablecoin payouts via supported crypto wallets on the Solana and Polygon blockchain networks," the Mark Zuckerberg-led company announced just a few hours ago. "To receive these payouts, you must use a wallet that accepts USDC on one of these networks."
Meta has begun offering creators the ability to receive earnings in Circle's USDC stablecoin on the Solana and Polygon blockchains, with the feature currently in beta for select creators in Colombia and the Philippines. The move represents the company's first significant re-engagement with cryptocurrency payments since shutting down its ambitious Libra (later Diem) project in 2022 due to regulatory backlash.
"Live in Colombia and the Philippines, with 160+ markets coming, users now get faster settlement with USDC while gaining access to dollar-denominated assets,” Polygon said. “This is how creators' lives are improved."
The announcement signals a fundamental shift in how Meta approaches blockchain technology, abandoning its earlier ambition to create a global currency in favor of integrating existing stablecoin infrastructure into its creator payment ecosystem serving over 3 billion users globally.
Why is Crypto Down Today? Bitcoin Slips to $76k After Fed Holds Rates Steady | Crypto Watch Desk
"Businesses can now send stablecoin payouts directly to customers using Link"
Unlike the Libra project, which aimed to create a new cryptocurrency backed by a basket of fiat currencies and faced immediate regulatory scrutiny from governments worldwide, Meta's current strategy leverages Circle's established USDC stablecoin. USDC maintains one-to-one reserve backing with US dollars or short-term US Treasury instruments, with monthly attestations from Big Four accounting firms.
"Businesses can now send stablecoin payouts directly to customers using Link," said Jay Shah, head of Link at Stripe, the payments firm partnering with Meta to provide transaction processing and crypto-specific tax reporting. "We're already partnering with Meta so their creators can receive stablecoins in their Link wallets in countries like the Philippines and Colombia."
Eligible creators can connect compatible crypto wallets, including MetaMask, Phantom, Kraken, and Binance, to their Facebook payout accounts. Once connected, they receive earnings in USDC with settlement occurring in seconds rather than the days required for traditional bank transfers.
Meta's choice of Solana and Polygon reflects a focus on blockchain networks known for speed and low transaction costs
Both networks can process transactions with fees measured in fractions of a cent, compared to traditional cross-border payment systems that often charge substantial fees. For creators in regions with limited banking infrastructure, this represents a significant improvement in payment efficiency.
However, Meta has deliberately maintained distance from financial services. The company does not offer conversion services to transform USDC into local currencies, requiring creators to independently manage currency exchange through third-party cryptocurrency exchanges. This approach enables Meta to avoid direct financial services regulation while still enabling blockchain payments.
CWD Exclusive: Nischal Shetty On How Close WazirX Is To The First Payout | Crypto Watch Desk
Broader Industry Momentum
Meta's entry into stablecoin payments arrives amid accelerating mainstream adoption. Visa reported that its stablecoin settlement network achieved $7 billion in annualized transaction volume with 50% quarterly growth. Other major companies, including Airbnb, Apple, Google, and X, have also begun exploring stablecoin partnerships, suggesting an industry-wide shift toward blockchain-based payment infrastructure.
The announcement directly benefits Circle by expanding USDC's utility to one of the world's largest social media platforms. For Solana and Polygon, Meta's adoption provides substantial validation of their capabilities for high-volume, real-world transactions.
Future Expansion
The initial rollout to Colombia and the Philippines represents a measured expansion strategy. However, industry sources suggest Meta may expand this feature to 160+ markets, indicating substantial long-term ambitions for blockchain-based creator payments.
Meta's current approach reflects clear lessons from the Libra experience. By using an existing stablecoin rather than creating its own currency, the company sidesteps many regulatory concerns that plagued its earlier venture. The partnership with Stripe for compliance and tax reporting demonstrates awareness of regulatory requirements while maintaining operational distance from direct financial services provision.