Meta Plans to Add Crypto Support for 3 Billion Users
Nidhi Kolhapur12 May 20253 min read
Bitcoin has surged past $100,000, driven by a wave of positive news and growing market optimism. As trade tensions ease and institutional interest rises, major tech companies like Meta are jumping into the crypto space. David Sacks, Trump’s crypto advisor, also recently said that a “Trump boom” is coming for the crypto market as concerns about the US dollar grow.
We might have one more catalyst fueling the Bitcoin Bull Run, with META planning Crypto payments. As per the latest reports from Fortune, Mark Zuckerberg is reportedly planning to add crypto support to Meta’s 3 billion users and is exploring ways to integrate cryptocurrency into its offerings.
Meta Explores Stablecoins for Cheaper Creator Payouts
Meta is currently in talks with crypto firms to introduce stablecoins for cheaper, cross-border creator payouts on platforms like Instagram. Meanwhile, Circle recently hired Matt Cavin to lead talks with Meta and other tech giants on potential partnerships.
Meta, the company behind Facebook, Instagram, and WhatsApp, is still recovering from its failed 2019 attempt to launch the Libra-Diem digital currency, which regulators shut down. Meanwhile, the stablecoin market, led by Tether’s USDT, has witnessed massive growth, partly fueled by Trump’s push for crypto-friendly regulations.
USDT’s Success Sparks Stablecoin Race
USDT’s success, which earned $13 billion in profits for Tether last year, has sparked competition as PayPal and Bank of America are now rolling out their own dollar-pegged stablecoins. In the past month, Visa partnered with the stablecoin infrastructure provider Bridge to enhance its crypto capabilities. Fidelity is also working on developing its own stablecoin.
In a related move, Zuckerberg recently spoke at a Stripe conference, where Stripe revealed plans to expand its stablecoin initiatives using technology from its recent Bridge acquisition. A recent report from Standard Chartered predicts that the stablecoin market could surge from $230 billion to $2 trillion by 2028, as a result of pro-crypto US regulations.
Arnoud Star Busmann, CEO of Quantoz Payments, said that Meta’s huge ecosystem will speed up the use of stablecoins as a better payment method.
Meta’s stock closed at $591.50 on Friday, up about 180% over the past five years and 9% in the last month. Adding crypto support is its latest move to expand beyond social media, after its recent efforts to sell AI to the US government.
Market reactions remain cautious for now as people await more updates from Meta. If Meta leverages its massive user base for crypto, it could become a major player in digital finance. Meta’s interest shows that even non-crypto companies are jumping into stablecoins, especially as lawmakers work on new regulations to bring clarity to the market.
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FAQs
- Meta sees stablecoins as a way to reduce payment costs and tap into digital finance after its failed Diem project.
