Meta Begins Stablecoin Payouts to Select Creators in Colombia and Philippines

Meta has initiated stablecoin payouts to a select group of creators in Colombia and the Philippines, marking a return to the stablecoin sector after its previous withdrawal. Creators can receive payments in USDC via supported crypto wallets on the Solana and Polygon blockchain networks. To participate, creators must link a cryptocurrency wallet to the payout system. Meta is not providing direct conversion to local currencies, requiring users to use external platforms for fiat exchange. The company has partnered with Stripe for crypto-related tax reporting. This move aligns with earlier reports of Meta's planned re-entry into stablecoins using third-party integrations, rather than launching its own token. Both Polygon and Solana have publicly supported the integration, with Polygon Labs CEO indicating the program could expand to over 160 countries by year-end. This strategy represents a departure from Meta's earlier Diem project, which was abandoned due to regulatory pressure, by leveraging existing blockchain infrastructure.

(Source：BeInCrypto)