Meta is shifting its focus from issuing its own cryptocurrency to integrating stablecoins like USDC and USDT for rewarding content creators on its platforms like Facebook and Instagram.
Stablecoins are preferred for their stable value and suitability for quick, stable, and low-cost transactions, enabling Meta to avoid slow legacy banking networks and assist creators in underbanked markets.
The use of stablecoins aims to improve creator retention, expand global engagement, and provide mobility in unstable economies, catering to creators in developing markets.
Meta's shift towards stablecoins reflects a more cautious approach after facing regulatory challenges in the past, with a focus on compliance and utilizing established fintech expertise to navigate the evolving crypto landscape.