Meta considers integrating stablecoins again to reduce payment costs after selling the Diem project

Meta is considering integrating stablecoins to reduce payment costs compared to fiat currency, such as paying Instagram creators. The report states, "The company seems to have not yet determined which specific stablecoin to use." Additionally, Meta has "contacted crypto infrastructure companies to address the cost issues of cross-regional payments." The company has also hired "former Ripple executive Ginger Baker as Vice President of Product." This renewed focus on stablecoins comes as "U.S. regulators have taken a more favorable attitude towards cryptocurrencies after President Trump's inauguration." In 2019, Meta launched the stablecoin project Libra, later renamed Diem, but "due to regulatory pressure, the project was not launched as scheduled and was eventually shut down." The intellectual property of Diem has been sold to Silvergate Bank, and although the bank later declared bankruptcy, "the project continues in new chains like Aptos with the MOVE language, but no longer involves Meta."