Meta’s Quiet Crypto Comeback — Here’s What’s Brewing

In 2019, Meta (then Facebook) stunned the financial world with its grand vision for a global digital currency: Libra. Backed by a consortium of tech and finance giants, Libra promised to revolutionize payments across Facebook, WhatsApp, and beyond. But the dream never materialized. Intense political scrutiny, privacy concerns, and regulatory backlash forced Meta to retreat. By 2022, the rebranded Diem project was dead in the water.

Fast-forward to 2025 — and Meta is tiptoeing back into crypto.

But this time, it’s not aiming to build a revolutionary new currency. Instead, it's playing a quieter, more calculated game: stablecoins.

🌐 From Ambition to Adaptation

According to Fortune, Meta has started early-stage talks with crypto infrastructure firms to explore the use of stablecoins — digital currencies typically pegged to the US dollar — as a vehicle for low-cost, cross-border payments. Five sources, all speaking anonymously, confirmed Meta’s intent to understand the current landscape and test possible integrations.

And there’s one key difference from 2019: this isn’t a moonshot. It’s a product feature.

Sources say Meta is eyeing stablecoins as a way to streamline payouts — particularly for creators on platforms like Instagram. Imagine a Brazilian influencer receiving $100 from a U.S.-based brand deal, with fewer fees and faster settlement than traditional wire transfers. Stablecoins make that possible.

It’s a shift from Meta trying to build the payment rails, to simply using the ones already being laid by others.

🏛️ The Regulatory Climate Has Shifted

The timing isn’t accidental. A change in political winds and fintech momentum is creating a more favorable climate for stablecoins.

Under the Biden administration, regulators cracked down on crypto across the board, leading to the downfall of projects like Diem. But with Donald Trump eyeing a return to the White House and Republicans increasingly pro-crypto, sentiment has shifted. Congress is now actively debating two bills that would regulate — rather than restrict — stablecoins.

Simultaneously, fintech leaders are diving in.

Stripe recently acquired Bridge, a stablecoin startup, for $1.1 billion. Visa has partnered with Bridge. Fidelity is developing its own stablecoin. And Stripe also introduced new stablecoin-powered financial accounts.

Meta’s move aligns with this broader fintech realignment — one that sees stablecoins less as a threat and more as infrastructure.

Get Your Free ChatGPT Productivity Bundle

Mindstream brings you 5 essential resources to master ChatGPT at work. This free bundle includes decision flowcharts, prompt templates, and our 2025 guide to AI productivity.

Our team of AI experts has packaged the most actionable ChatGPT hacks that are actually working for top marketers and founders. Save hours each week with these proven workflows.

It's completely free when you subscribe to our daily AI newsletter.

Subscribe to get instant access

👤 New Leadership, Familiar Strategy

Fueling Meta’s stablecoin revival is Ginger Baker, a fintech veteran who joined Meta in January as vice president of product. Her resume includes leadership roles at Plaid and a board seat at the Stellar Development Foundation, which manages a blockchain designed for cross-border payments.

Insiders say Baker is now helping to steer Meta’s crypto strategy.

According to Fortune, Meta has approached several crypto infrastructure firms, though it’s not yet committing to any single stablecoin. One executive suggested that Meta is intentionally staying “token-neutral,” exploring options like Circle’s USDC, but not locked into it.

And Circle is definitely in the picture. Matt Cavin, formerly of Immutable, is now leading Circle’s efforts with major tech firms, including Meta. His current role? Managing “tier one strategic partnerships.”

💡 Learning from Diem’s Demise

Meta’s measured approach marks a dramatic pivot from the high-stakes, high-profile rollout of Libra.

Back in 2019, Libra was billed as a transformative, decentralized currency backed by a basket of global fiat currencies. But it quickly became a political lightning rod. Lawmakers feared Facebook's dominance could spill into global finance. The project was rebranded as Diem, stripped down, and eventually sold off to Silvergate Bank.

Even Mark Zuckerberg has publicly acknowledged the failure. At a recent Stripe conference, when asked about Diem, he responded candidly: “That thing’s dead.” But he also hinted at Meta’s resilience: “There’s plenty of things that [we’re] late to, and have to claw our way back into the game. I think we’re pretty good at that.”

Now, Meta’s goal isn’t to dominate the monetary system — it’s to enhance its ecosystem. That’s a safer, smarter strategy in today’s fintech environment.

🌉 Big Tech, Small Payments

What’s most intriguing about Meta’s current focus is the size of the payments it’s targeting.

Sources describe pilot ideas centered around small, creator-driven payouts — transactions under $100 — where legacy systems like SWIFT or PayPal eat away a disproportionate amount in fees. Stablecoins, which move seamlessly on blockchain rails, offer a cleaner alternative.

If successful, this model could scale to gig workers, international freelancers, or even digital commerce in emerging markets. And Meta, with its massive global footprint, is uniquely positioned to experiment at scale.

🔮 The Bigger Picture: Stablecoins Are Having a Moment

Zoom out, and Meta’s renewed crypto curiosity is just one data point in a broader trend.

Stablecoins are evolving from speculative assets to real-world utility tools. With fintech giants entering the fray and regulators (slowly) laying out rules, 2025 could be the year stablecoins become boring — and in finance, boring is often a good sign.

If Meta stays cautious, plays the long game, and builds around actual user needs, it may finally carve out a sustainable place in the crypto ecosystem.

🎯 Final Thought: From Hype to Humility

Meta’s first attempt at digital currency was bold, loud, and ultimately unsustainable.

This time, it’s different.

By learning from past mistakes, hiring wisely, and staying grounded in product utility — not just headlines — Meta is positioning itself for a quieter, but potentially more enduring role in the next chapter of fintech.

Stablecoins may not grab the same headlines as Libra once did, but their impact — if executed right — could be just as transformative.

Thanks for reading this edition of Fintech Forward. Stay curious, stay informed.