Meta Begins Stablecoin Payments to Creators via Stripe

TLDR

Table of Contents

Meta has launched a pilot program that pays select creators in USDC stablecoin.
The feature is currently available to eligible users in Colombia and the Philippines.
Creators can link a crypto wallet and receive payouts on Solana or Polygon.
Stripe supports the system and provides crypto-related transaction reporting.
Creators may receive tax documents from both Meta and Stripe for earnings and digital asset activity.

Meta has begun paying select creators in stablecoins through a new pilot program. The company has launched the feature in Colombia and the Philippines with Stripe’s support. The rollout marks Meta’s return to crypto payments after it ended its Libra project in 2022.

Meta Rolls out USDC Payouts for Creators

Meta now allows eligible creators to receive payouts in Circle’s USDC token. The company has limited the feature to a small group in Colombia and the Philippines. Creators can link a crypto wallet and choose Solana or Polygon for settlement.

Meta states that the program supports cross-border payments without traditional banking rails. The company explains that creators can access funds through supported blockchain networks. The website confirms that participation remains limited during the early phase.

Stripe supports the integration and handles crypto-related reporting for users. A Stripe spokesperson confirmed the company’s role in the rollout. Stripe will also provide transaction records tied to digital asset activity.

Creators may receive tax documents from both Meta and Stripe. The documents will reflect earnings and related digital asset transactions. Meta outlines these reporting steps on its support pages.

Circle issues USDC as a stablecoin pegged to the U.S. dollar. The token maintains a 1:1 value with the dollar. Meta selected USDC for the pilot payouts.

Solana and Polygon serve as the supported blockchain networks. Creators can select either network for their transactions. Both networks process transfers using blockchain technology.

Stripe Backs Meta’s Stablecoin Payment System

Stripe provides infrastructure for the crypto payout system. The company manages reporting tied to wallet transactions and earnings. Stripe confirmed its involvement in a statement to media outlets.

CoinDesk reported in February that Meta sought third-party vendors for stablecoin payments. Stripe ranked among the leading contenders for integration. The current rollout confirms Stripe’s participation.

Meta operates social platforms with more than 3 billion users globally. The company positions the pilot as part of its payment services expansion. It has not announced a timeline for broader availability.

Stablecoins function as cryptocurrencies linked to fiat currencies. Companies use them to move funds across borders quickly. Visa reported $7 billion in annualized stablecoin settlement volume.

Visa said that volume grew 50% within one quarter. The company shared those figures in recent disclosures. The data reflects rising usage of stablecoin networks.

Meta previously introduced Libra as a digital currency project. The company later renamed the token Diem. It shut down the project in 2022 after regulatory scrutiny.

The new pilot focuses only on creator payouts. Meta has not announced plans for a separate token. The company confirmed the feature on its official website.

✨ Limited Time Offer