Meta to revive stablecoin business push in the second half
Summary
- Meta is said to be planning to restart its stablecoin business in the second half of this year.
- Meta said it sent out a request for proposal (RFP) to select a third-party firm to support stablecoin-based payment management.
- Meta is said to be reviewing a plan to lower regulatory risk by introducing stablecoins indirectly via third-party payment providers rather than issuing one itself.
Meta is said to be planning to restart its stablecoin business in the second half of this year.
On the 24th (local time), cryptocurrency-focused outlet CoinDesk reported, citing three sources, that Meta sent out a request for proposal (RFP) to select a third-party firm to support stablecoin-based payment management.
According to the sources, Stripe is being widely mentioned as a leading candidate to serve as Meta’s stablecoin pilot partner.
Meta pursued its own stablecoin project in 2019—Libra (later renamed Diem)—but formally shut down the project in early 2022 after facing strong pushback from the U.S. Congress.
This time, Meta is said to be reviewing a plan to introduce stablecoins indirectly via third-party payment providers rather than issuing one itself. The move is interpreted as a strategy to reduce regulatory risk.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
