The Facebook owner’s stablecoin integration involves a third party vendor to help administer stablecoin-based payments and a new wallet to be implemented, sources said, according to Coindesk.
Meta, the U.S. tech giant helmed by Facebook creator Mark Zuckerberg, is aiming to enter the stablecoin space later this year, pending successful integration with a third-party firm to facilitate payments using the dollar-pegged token technology, according to three people familiar with the plans.
The tech giant, which owns Facebook, WhatsApp and Instagram and has more than 3 billion users, wants to begin its stablecoin integration early in the second half of this year, said one of the people, who spoke on condition of anonymity because the plans are not public. Meta is planning to integrate a vendor to help administer stablecoin-backed payments and implement a new wallet, the person said.
Meta introducing stablecoins would let it open payment rails to its massive user base while bypassing expensive traditional banking fees, and potentially position it as a global leader in „social commerce” and cross-border remittances.
The move would also put the tech giant in direct competition with the likes of Elon Musk’s social media platform X as well as messaging platform Telegram, both of which are aiming to bring payments in-house by becoming „super apps.”
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
