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Report: Meta Considering Using Stablecoins for Cross-Border Payments

  • Meta is considering adopting stablecoins for cross-border payments to avoid fees associated with wire transfers and other methods.
  • This effort follows Meta's previous initiative, abandoned in 2022, to launch a stablecoin called Diem that faced regulatory opposition.
  • The current consideration of stablecoins aligns with the favorable stance of the new Trump administration towards crypto and the increased use of stablecoins in the financial sector.
  • Other recent developments in the stablecoin space include Stripe's acquisition of Bridge, Visa's partnership with Bridge, and Fidelity's plan to launch its own stablecoin.

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