It is reported that Meta is in talks with cryptocurrency companies regarding stablecoin payment matters

According to reports, Meta Platforms is in talks with several cryptocurrency companies to introduce stablecoins for managing expenses and has hired a product vice president with cryptocurrency experience to assist in the discussions. In January of this year, Meta hired Ginger Baker, who focuses on fintech and payments, as the product vice president. A source revealed that Baker is helping Meta explore the stablecoin business. Additionally, three other sources indicated that the social media and tech giant had reached out to cryptocurrency infrastructure companies earlier this year. The discussions are reportedly still in the preliminary stages, focusing on a key feature of stablecoins compared to fiat currencies—the ability to make payments to individuals in different regions without incurring high fees like those associated with wire transfers. It was reported that an executive from a cryptocurrency infrastructure provider suggested that Instagram could integrate stablecoins to make small payments of around $100 to creators in different markets, which would be cheaper than using fiat currency for payments. Two other cryptocurrency executives stated that they have had early discussions with Meta, focusing on payment use cases