Senator Elizabeth Warren has called on Meta to be transparent about its reported plan to integrate third-party stablecoins into its social media ecosystem in the second half of 2026.
In 信, the top member of the Senate Banking Committee expressed concerns to CEO Mark Zuckerberg that this move could compromise the financial stability and consumer privacy of Meta’s 3.5 billion-user network.
The senator cited recent reports indicating that Meta is currently conducting small-scale, targeted trials using third-party stablecoins in preparation for a broader rollout next year.
The senator stated that this marks Meta's second attempt to enter the stablecoin space, noting that the company's 2019 Libra project faced bipartisan opposition from U.S. lawmakers, regulators, and international financial authorities for legitimate reasons.
The senator stated that if Meta’s Libra project had been successfully implemented, the company could have used Libra to collect transaction data for its advertising business and effectively function as a “private central bank.” Warren wrote that, should a run on Libra occur, taxpayers would likely be required to guarantee the system—a risk similar to that posed by other private stablecoin projects.
Although Meta told lawmakers in June 2025 that it had no plans to issue its own stablecoin, Warren claimed the company failed to disclose its business relationships with third-party issuers or potential updates to its MetaPay wallet.
Warren wrote in the letter: "It is crucial that Meta remains transparent about its stablecoin-related plans. In addition to its previous failed attempt to issue its own global private currency, the company has also struggled to securely provide its existing products and services."
Warren further criticized Meta for "putting profits above the privacy of American citizens" and expressed concern over the company's past "anti-competitive practices." The senator warned that any move by the company into payments and financial services "should be questioned."
Warren demands disclosure of the trial structure, control measures, and launch schedule.
Senator Warren asked Zuckerberg to answer seven detailed questions by May 20 to help her “better understand Meta’s plans related to stablecoins.”
Among the many questions, Warren asked whether Meta plans to modify the MetaPay wallet to allow users to hold stablecoins as funds on the platform, rather than merely storing payment credentials. She also requested that Meta provide a list of all third-party stablecoins under consideration for integration, including the final selected stablecoin types.
The senator wanted to know whether Meta has selected a third-party stablecoin and implemented appropriate risk management controls to ensure secure scaling if over 3.5 billion users suddenly gain access to Meta. Warren also asked whether Meta would adopt a profit-sharing or transaction-based compensation model with the third-party stablecoin, and whether Meta intends to prioritize the use of that stablecoin over other payment methods.
Other questions concern privacy protections, illegal financial controls, and whether Meta has committed to never issuing its own stablecoin or any other product with private currency functionality. Last year, Meta told lawmakers that it had no plans to issue a stablecoin. Warren is asking whether this statement still holds true.
Stablecoin adoption
As stablecoins increasingly become "everyday currency" worldwide, opposition is growing. A survey of 4,658 adults across 15 countries in the 2026 Stablecoin Utility Report found that 54% of cryptocurrency users held stablecoins over the past year. The study revealed that holders currently allocate about one-third of their total savings to cryptocurrency and stablecoins.
According to data from The Block, this adoption is reflected in the total supply denominated in U.S. dollars, which has surpassed $303 billion. Data Dashboard Tether’s USDT accounts for $189.7 billion of the total market cap, while Circle’s USDC has a market cap of approximately $79 billion.
Notably, some industry insiders believe that Meta’s entry into the digital assets space is a necessary step toward the maturation of the digital assets market. Matt Hougan, Chief Information Officer at Bitwise, recently noted that pilot programs by companies like Meta and DoorDash—where DoorDash is testing payments in stablecoins to its 10 million delivery drivers—could help drive growth in the total supply of stablecoins.to reach $4 trillion by 2030
Hougan said the main advantage of these platforms is that they enable simple global microtransactions using just a wallet address, without relying on traditional banking infrastructure.