Meta rolls out stablecoin payouts for creators in Philippines, Colombia
The latest stablecoin move comes years after Meta first dipped its toes into stablecoins through Libra in 2019, before scrapping the plans in 2022 due to regulatory pushback.
US tech giant Meta has launched USDC payouts for creators on its platforms in the Philippines and Colombia, with plans to expand to additional markets.
Creators who opt into the service will receive payments directly into crypto wallets on the Solana and Polygon blockchains. However, Meta does not offer a built-in conversion option, so an external exchange is required to convert USDC into fiat currency, according to the announcement on Wednesday.
The service is currently available only to select creators in Colombia and the Philippines, but Polygon said Wednesday that the stablecoin rollout is expected to expand to more jurisdictions soon.