Meta's encryption payment makes a strong comeback? FB and IG rumored to internally test stablecoin payments, Zuckerberg's blockchain ambitions are not given up.

After abandoning Diem (Libra) three years ago, Meta is rumored to be re-exploring the integration of stablecoins into its platform to improve cross-border payments. Reflects changes in the market and regulatory environment. (Synopsis: Zuckerberg is finished!) Antitrust settlement failed "FTC to fine $30 billion", WSJ: Meta only wants to pay 450 million magnesium, which even IG can't afford) (Background supplement: Former Meta executives broke the news that Zuckerberg licked complicity: secretly created "Facebook Taiwan and Hong Kong censorship" tools, sold Facebook user privacy) After ending its ambitious Diem (formerly Libra) cryptocurrency project three years ago, tech giant Meta seems to be planning to re-enter the blockchain space. According to a recent report from Fortune magazine, Meta is in deep talks with cryptocurrency companies to explore the integration of stablecoins in its vast ecosystem, especially for applications that process cross-border payments. From Diem's failure to a new attempt at stablecoins Let's briefly recap, when Meta's predecessor Facebook announced its Diem (formerly Libra) plan in 2019, it had the vision of establishing a global digital currency and payment system, which caused huge market repercussions, but it also faced strong opposition and strict scrutiny from governments and regulators. Unable to obtain the necessary regulatory approvals, Meta eventually abandoned the project in early 2022. However, Meta's ambitions seem to have resurfaced recently. To that end, Meta has hired Ginger Baker, who has experience in fintech and cryptocurrency, as vice president of product to drive the matter. The potential and advantages of cross-border payments Fortune quoted sources as pointing out that the core focus of Meta's discussions with crypto partners is on the use of stablecoins for cross-border payments. Compared to traditional international wire transfers, stablecoins have significant advantages in fees and speed. For platforms like Meta, which have a large global user base and content creator ecosystem (e.g., FB, Instagram), there are frequent payments to creators in different countries. For example, when paying a small sum of about $100 to a creator, the high fees of traditional cross-border remittances can significantly erode revenue, while the use of stablecoins can significantly reduce transaction costs, with reports of up to 70%. In addition to B2B, shopping diversion on FB and IG has also been quite popular in recent years, and successful support for stablecoin payments will greatly broaden payment convenience. While specific integration options are still under preliminary discussion, sources suggest that Meta may adopt an open-door strategy for specific stablecoins, not tying itself to a particular vendor's coin (e.g. Circle's USDC or Tether's USDT). The rise of stablecoins and the regulatory environment The factors that prompted Meta to explore cryptocurrencies again are presumably closely related to the changes in the current environment in which stablecoins operate. At present, the acceptance of stablecoins in the mainstream financial world is increasing, and many large enterprises and financial institutions have recently deployed in this field, such as Visa's launch of stablecoin payments in Latin America, Stripe's acquisition of stablecoin startup Bridge and the launch of new financial accounts powered by stablecoins, and Fidelity test stablecoins. In addition, Trump's election is also seen as stimulating the use of stablecoins in the financial world, and members of the US Congress are currently actively debating two bills aimed at regulating stablecoins, indicating that the regulatory framework for stablecoins is gradually taking shape compared to the Diem era, providing a clearer environment for companies to enter. EXTENDED READING: THE U.S. GENIUS STABLECOIN REGULATORY LAW FAILED! Democrats: Ban the Trump family from profiting from cryptocurrencies first Learn the Diem Lesson: Be Pragmatic Despite the failure of the Diem project, we know that many of the core employees involved in the Diem project chose to continue their ventures in the cryptocurrency space, and the Move programming language developed by Diem was also praised for its security and efficiency, and was later adopted by a new generation of blockchain projects such as Aptos and Sui. Meta CEO Zuckerberg acknowledged that Diem is dead at a recent meeting, but also stressed that Meta is good at "getting back into the game" when it falls behind. Diem's failures, especially in the face of regulatory challenges, have clearly influenced Meta's strategy of exploring stablecoins this time: instead of trying to issue its own currency, it chooses to work with existing stablecoin issuers to integrate stablecoins that exist, are regulated, or are moving towards regulation in the market. It is not clear whether Meta's re-entry into the cryptocurrency space will be successful in choosing stablecoins as an entry point, but once it successfully integrates stablecoins to optimize cross-border payments, Meta is not only expected to reduce operating costs, but also may provide millions of content creators around the world with a more efficient way to obtain revenue, which will have a profound impact on the global digital payment field. Related reports Apple and Meta are fined 700 million euros for violating the EU's "Digital Markets Law", and the use of crypto payments in the App Store is not far off? Zuckerberg is finished! Antitrust settlement failed "FTC to fine $30 billion", WSJ: Meta only wants to pay 450 million magnesium, which even IG can't afford "Meta crypto payment blockbuster return? FB, IG internal test stablecoin payment, Zuckerberg's blockchain ambition has not been abandoned" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".