The META technology giant (META) seeks to use Stablecoin to manage payments, Fortune reported, citing five sources familiar with the issue.
Meta also hired a vice-president of the product, Ginger Baker, who has cryptographic experience to help her stable efforts, Fortune said.
The company’s foray into the crypto deserves to be noted, since its 2019 Balance Blockchain project, renamed Diem, stopped in 2022, after an intense regulatory examination.
If Meta goes with this project, he will enter the sector at a time when stabbed – digital tokens set in fiduciary currencies like the US dollar – become the hottest trend among cryptographic and tradfi companies.
Companies such as Ripple, Mastercard, Visa, Dutch Bank ING and Stripe all join the Stablescoin industry. In fact, Standard Charterd said that the stable market could increase by 2 dollars by the end of 2028.
However, legislators in the United States also examine stablescoins. A vote to open a debate on the floor plan on a bill regulating this cryptographic industry sector failed Thursday after the legislators expressed their concerns about the protection of consumer and the legal provisions of consumers of the bill, as well as the foray for US President Donald Trump in the stablecoins through the USD1 of World Liberty Financial.
Read more: The Senate votes against the progress of the Stable Bill, delaying the process while Trump concerns Fester
Update (May 8, 20:15): Updates to add more details on the Stablecoin invoice.
