Tech giant Meta is reportedly looking to integrate stablecoin payments across its platforms, including Facebook, WhatsApp, and Instagram. This comes amid regulatory clarity, thanks to the passage of the GENIUS Act, which has boosted stablecoin adoption, with experts predicting the stablecoin industry will grow into a trillion-dollar market.
Meta Eyes Stablecoin Integration By the Second Half Of The Year
According to a CoinDesk report, the tech giant is looking to enter the stablecoin space later this year, pending a successful integration with a third-party firm facilitate the payments, citing three people familiar with the plans. One of these people revealed that the stablecoin integration could be early in the second half of this year.
Meta is reportedly planning to integrate a vendor that will help administer stablecoin-backed payments and implement a new wallet. This could provide a major boost for mainstream stablecoin adoption as the social media giant serves 3.9 million monthly active users globally.
Furthermore, CoinDesk reported that the company has sent out a request for product (RFP) to third-party firms and mentioned Stripe as a likely candidate for piloting its stablecoin. It is worth noting that Meta had earlier undertaken the Libra project, which aimed to launch a permissioned stablecoin payment system, though that didn’t work out.
The planned stablecoin integration comes amid regulatory clarity, thanks to the passage of the GENIUS Act. Meta joins a host of other tech giants, including Elon Musk’s X, Apple, Google, and Airbnb, that are exploring integrating stablecoin payments.
Meanwhile, Wall Street giants, including Bank of America and Citi, are also reportedly looking to launch their stablecoins thanks to regulatory clarity. As CoinGape reported, asset manager Fidelity recently launched its FIDD stablecoin on the Ethereum network.
Stablecoins Becoming A Core Part Of Global Payments
In its annual letter, Meta’s partner Stripe stated that stablecoins are becoming a core part of the payments infrastructure and that their adoption is no longer tied to crypto prices. Notably, stablecoin payment volumes doubled last year even as Bitcoin’s price declined, driven by their real-world use in business transactions.
Stripe also warned that current blockchains may struggle to keep up as these networks may need to handle up to billions of transactions per second as automated, AI-driven commerce expands. Beyond daily transactions, stablecoins are also gaining adoption among countries. CoinGape recently reported that Trump’s Board of Peace is eyeing a dollar-backed stablecoin for Gaza rebuild.
Meanwhile, as stablecoin adoption grows, Standard Chartered predicts that the stablecoin market cap could rise from $304 billion to $2 trillion by 2028. This aligns with U.S. Treasury Secretary Scott Bessent’s prediction that the stablecoin market could be worth $3 trillion by 2030.