In a significant development for the cryptocurrency landscape, Meta is revisiting its ambitions to enter the crypto space. Reports indicate that the company aims to launch a stablecoin to streamline payouts across its social media platforms.
President Trump’s memecoin made 58 fortunate crypto holders over $10 million
According to sources familiar with the matter, the initiative is led by Giner Baker, Meta’s VP of product and a board member of the Stellar Development Foundation. Earlier this year, the company engaged with various crypto infrastructure firms to explore the launch of its new stablecoin.
The proposed stablecoin aims to facilitate payments to content creators across platforms like Instagram, reflecting Meta’s commitment to integrating cryptocurrency into its ecosystem.
Meta’s Crypto Journey
In 2019, prior to rebranding as Meta, Facebook unveiled an ambitious cryptocurrency project centered around a stablecoin named Libra, which aimed to introduce a blockchain and wallet to its platform.
A stablecoin is designed to maintain a stable value, providing users a relatively secure option compared to the volatility seen in traditional cryptocurrencies and meme coins.
Despite initial excitement, Facebook’s Libra encountered several challenges, including critiques from then-President Trump, who publicly expressed concerns about the project. Nevertheless, Libra continued to evolve, undergoing a rebranding in late 2020 amidst a growing cryptocurrency market.
By early 2022, however, the new Meta faced regulatory scrutiny and ultimately commenced winding down the Libra project, coinciding with a downturn in the cryptocurrency market as many large tokens failed.
Renewed Interest in Crypto
Fast forward to 2025, and the cryptocurrency environment is markedly different.
With President Trump now in his second term, he has embraced cryptocurrency, launching his own meme coin, $TRUMP, which has generated substantial revenue for his ventures. Trump’s company, World Liberty Financial, has also introduced a memecoin named USD1, with significant investment interest from an Abu Dhabi investment firm.
In a notable shift, Congress and financial regulators appear to be more lenient toward the cryptocurrency sector under Trump, leaving the door open for opportunities involving the current president.
As the crypto landscape evolves, Meta is strategically positioned to capitalize on the renewed interest in cryptocurrency.
