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Meta quietly rolls out stablecoin payments in Colombia and Philippines four years after shelving controversial Diem project
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Meta quietly rolls out stablecoin payments in Colombia and Philippines four years after shelving controversial Diem project

Reddit r/CryptoCurrency·u/fortune·about 1 month ago
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#meta#stablecoin#payouts#usdc#crypto#article
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Meta quietly rolls out stablecoin payments in Colombia and Philippines four years after shelving controversial Diem project Meta has reentered the stablecoin market. Four years after pulling the plug on an earlier attempt, the tech giant has quietly rolled out the digital currency payouts for select creators in Colombia and the Philippines, according to an update to the tech giant’s website. The payouts are available on the Solana and Polygon blockchain networks and use the stablecoin USDC. Creators who opt for Meta’s stablecoin payouts will be prompted to enter their third-party crypto wallet address into Facebook’s payout platform. Meta will not offer services to convert USDC into local currencies. Meta also partnered with Stripe for some crypto-specific tax reporting for the stablecoin payouts, according to the webpage. “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,” a Meta spokesperson told Fortune.…

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