Meta considers incorporating stablcoins into its payment systems: Report

According to sources with knowledge of the case, Goal It is exploring the use of Stablecoins for international payments, a clear sign of its renewed interest in digital assets after failure in its attempts to boost its own cryptocurrency.

***

• Ginger Baker leads this new phase, backed by her experience in Fintech and her role in Stellar
  
• Integration seeks to reduce costs in small payments, such as those who receive creators in Instagram
  
• Discussions occur at a key moment of regulatory debate in the United States.

The technological giant Goal You are considering integrating Stablecoins into its platforms to facilitate global payments, as reported Forbes, citing five people with direct knowledge of the subject.

This movement could mark the return of Goal to the world of digital assets, after having abandoned its initiative Diem —This known as Pound- in January 2022 due to strong regulatory pressure. The company now seems to be taking a more collaborative and less disruptive approach, Opening conversations with crypto infrastructure signatures to advance this new stage.

The return after Diem

Goal launched Pound In 2019 with the ambition to create a global digital currency, backed by a consortium of large companies. However, the project faced immediate resistance from governments and regulators, which led to multiple modifications and finally closing under the name Diem.

This time, instead of leading its own stablocoin, the company is exploring the adoption of existing stablcoins as USDC either USDT For specific purposes within its ecosystem. The goal is to allow more efficient and economic cross -border payments, in contrast to traditional bank transfers.

One of the main motivations is to reduce commissions that affect small international payments, such as those received by content creators in Instagram As commented to Forbes An executive of a firm involved, including transfers as small as USD $ 100 could benefit from this crypto infrastructure.

Ginger Baker in charge of the process

To lead this new phase, Goal She has appointed Ginger Baker as product vice president.

Baker is a recognized figure in the Fintech world and was executive of Plaid, One of the key platforms in digital bank connectivity. In addition, it is part of the Council of the Stellar Development Foundationan organization that promotes solutions based on Blockchain.

His experience positions it as a key figure to direct this crypto integration in a strategic way, taking into account both the usability and the regulatory complexity of the stablecoins in global markets.

Baker’s role could be decisive in the design of financial products integrated into platforms such as WhatsApp, Messenger either Instagram, facilitating direct payments between users in different countries.

An expanding market

The Stablecoins market has shown remarkable growth in the last year. According to data from Defill, The total market capitalization has doubled until reaching USD $ 245,000 million.

Tether (USDT) dominates with approximately USD $ 150,000 million in circulation, while USD Coin (USDC) It has grown, moving from USD $ 33,000 million to about USD $ 60,000 million, according to market data.

This growth reflects greater institutional adoption and common users, particularly in economies where access to the dollar is limited or expensive. The possible entry of an actor as a goal could further accelerate this trend.

Regulatory obstacles in the US.

The renewed interest of Goal occurs in a transition context for crypto regulation in the US. In particular, the act Genius —A legislative proposal to establish a clear regulatory framework for the Stablecoins – failed to advance in the Senate this week.

However, Senator John Thune has announced that he will present a motion next week to reconsider the project, indicating that there is still political impulse to address this matter.

Meta posture suggests that the company is closely monitoring these developments and that it could advance more aggressively if the rules of the game are clarified. This caution contrasts with its most disruptive approach in the case of Libra/Diem.

Although still at an early stage, the goal plan to use Stablcoins in its services has the potential to transform digital financial access for millions of users, especially in regions with little efficient banking systems.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

Subscribe to our newsletter