Meta in talks to deploy stablecoins three years after giving up on landmark crypto project
In 2019, Meta announced an audacious project: a new cryptocurrency that could be used across Facebook, WhatsApp, and a host of other digital platforms. The company, though, pulled the plug on its plans in the face of withering opposition from Congress and other lawmakers. Now, Meta is testing the crypto waters again. According to five sources familiar with the matter, the company is in discussions with crypto firms to introduce stablecoins as a means to manage payouts, and has also hired a vice president of product with crypto experience to help shepherd the discussions. All five sources, whose identities are known to Fortune, spoke on the condition of anonymity to talk about private business dealings.
Meta declined to comment.
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