According to Fortune, Meta has quietly launched a stablecoin payment feature, offering USDC-based payment services to select creators in Colombia and the Philippines, supporting the Solana and Polygon networks. Creators can link third-party wallet addresses to Facebook’s payment platform to withdraw funds. Meta does not provide USDC conversion into local fiat currencies and is partnering with Stripe to handle related tax reporting. According to Marc Boiron, CEO of Polygon Labs, the project is expected to expand to over 160 countries by the end of the year. This launch comes more than four years after Meta’s Libra project (later renamed Diem) was terminated in 2022.
Meta Launches USDC-Based Payment Service for Creators in Colombia and the Philippines
TechFlowShare
Summary
Meta has announced a new project in Colombia and the Philippines, providing creators with a USDC-based payment service. The on-chain update reveals that the feature supports Solana and Polygon, enabling withdrawals to third-party wallets. Meta does not handle fiat conversions and partners with Stripe for tax reporting. Polygon CEO Marc Boiron stated that the project aims to expand to over 160 countries by the end of the year. This follows the 2022 discontinuation of Meta’s Libra/Diem project.
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