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.

Spokespeople for Stripe did not immediately respond to a request for comment.

The rollout from Meta follows the tech giant’s failed attempt to launch its own stablecoin through a project called Libra (later rebranded as Diem), which the company abandoned in 2022 after opposition from lawmakers and Congress. Last year, the company began to reexplore stablecoins amid a more favorable regulatory environment under President Donald Trump, Fortune previously reported. Meta put out requests for help on its stablecoin project earlier this year.

Read more: https://fortune.com/2026/04/29/meta-stablecoins-crypto-usdc-polygon-solana/