Meta has begun rolling out stablecoin payouts for select content creators, marking its return to digital currency after abandoning the Diem project in 2022. The new feature allows creators in Colombia and the Philippines to receive payments in USDC, a stablecoin pegged to the U.S. dollar, via the Solana and Polygon blockchain networks.
Creators must connect a third-party crypto wallet to their Facebook payout account to receive the funds. Meta is not providing services to convert the USDC into local currency, meaning creators will need to use other platforms for that purpose. The initiative also involves a partnership with Stripe to handle some of the crypto-specific tax reporting.