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Meta is returning to crypto: Stable coin move - Bitcoin news - Uzmancoin - Crypto currency and Blockchain
The tech giant Meta is returning to the use of stable coins years after the failed Diem project. According to the information reported, the company plans to reduce costs by using stable coins, particularly for payments made to content creators.
Although Meta currently does not have an agreement with a specific stable coin, it is reported that the company aims to make its payment processes more efficient, especially on platforms like Instagram. In line with this, Ginger Baker, a former executive at Ripple, joined Meta as the vice president of product. Additionally, Meta has also reached out to some crypto infrastructure firms to reduce regional payment costs.
Meta's first foray into the stablecoin space began in 2019 with Libra, which later changed its name to Diem. However, due to regulatory pressures, the project ended in 2022, and its assets were sold to SilverGate.io Bank. Although Diem was shelved, the MOVE programming language developed for the project continues to live on in next-generation blockchains like Aptos, Sei, and Movement.
The company made trademark applications related to digital assets in 2022 and 2023. These applications cover cryptocurrency trading, blockchain-based hardware, and cryptocurrency exchange services.
Published: May 9, 2025 15:57