Meta Explores USDC and USDT Integration on Ethereum for Content Creators

Meta Platforms Inc., led by Mark Zuckerberg, is exploring the integration of stablecoins into its platforms, including Facebook, Instagram, and WhatsApp, to facilitate payments for its 3.5 billion users. The company is considering partnerships with stablecoin providers to enable these transactions, focusing on existing stablecoins like USDC and USDT. Ginger Baker, a fintech veteran, has been appointed as Vice President of Product to lead this initiative.

This move comes after the failure of Meta's previous cryptocurrency project, Libra, which faced significant regulatory challenges. The new strategy aims to leverage stablecoins for their stability and efficiency in cross-border payments, particularly for content creators who could benefit from faster and cheaper transactions. The integration is expected to occur on the Ethereum network, offering regulatory flexibility by using established providers.

Stablecoin activity has seen significant growth across various networks. Tether's USDT supply has surpassed $150 billion, with TRON leading with a 48.57% share of USDT issuance. Additionally, stablecoin supply on the TRON network increased by $1.74 billion in the past week, while it decreased by $1.38 billion on Solana. Meta is also considering pilot programs to test this new payment system.

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