The Meta (Meta) technological giant is looking to use Stablecoin to manage payments, Fortune reported, citing five sources familiar with the matter.
Meta has also hired a product vice president, Ginger Baker, who has cryptographic experience to help with his stablecoin efforts, said Fortune.
It is worth noting the company’s foray into Crypto, since its 2019 Libra Blockchain project, later renowned Diem, stopped in 2022, after the intense regulatory scrutiny.
If Meta passes with this project, he will enter the sector at a time when Stablecoins, digital tokens linked to fiduciary currencies such as the US dollar, are becoming the most popular trend among cryptographic and traditional companies.
Companies such as Ripple, Mastercard, Visa, Dutch Bank Ing and Stripe join the Stablecoin industry. In fact, Standard Chartered said the Stablecoin market could grow by $ 2 billion at the end of 2028.
However, legislators in the US are also analyzing Stablecoins. A vote to open a debate on the floor on a bill that regulates this sector of the cryptographic industry failed early after legislators expressed concern about some of the legal provisions and consumer protection of the bill, as well as about the incursion of the president of the United States, Donald Trump, in Stablcoins through the USD1 of World Liberty Financial.
Read more: the Senate votes against advancing in the Stablecoin bill, delaying the process as Trump refers to Festter
Update (May 8, 20:15): Updates to add more details about the Stablecoin invoice.
