In 2019, Meta announced an audacious project: a new cryptocurrency that could be used across Facebook, WhatsApp, and a host of other digital platforms. The company, though, pulled the plug on its plans in the face of withering opposition from Congress and other lawmakers. Now, Meta is testing the crypto waters again. According to five sources familiar with the matter, the company is in discussions with crypto firms to introduce stablecoins as a means to manage payouts, and has also hired a vice president of product with crypto experience to help shepherd the discussions. All five sources, whose identities are known to Fortune, spoke on the condition of anonymity to talk about private business dealings. Meta declined to comment. Stablecoins, a form of nonvolatile cryptocurrency typically pegged to the U.S. dollar, have long been a buzzy product in the blockchain industry, but the Biden administration’s vigorous anti-crypto policies limited their mainstream adoption. Donald Trump’s election last November, however, along with the recent $1.1 billion acquisition of the stablecoin startup Bridge by payment giant Stripe, have spurred their use in the broader financial world, especially as a form of cross-border payments.

Full exclusive : Meta is talking to crypto firms about introducing stablecoins for managing payouts, and in January 2025 hired a VP of product with crypto experience.