Tech company Meta is reportedly exploring integrating stablecoin payments into its platforms after a three-year hiatus from cryptocurrencies, Fortune reported, citing sources familiar with the matter.
The Facebook parent held talks with several crypto infrastructure firms in consultation but has not chosen a decisive course of action, according to the report.
One source said the company may take a multi-token approach and integrate support for popular stablecoins such as Tether’s USDt (USDT), Circle’s USD Coin (USDC) and others.
Meta is the latest tech firm to integrate or explore the use of stablecoins for payments, as they increasingly attract institutional interest and investment, causing the stablecoin market capitalization to soar past $230 billion.
An overview of the stablecoin market. Source: RWA.XYZ
Related: US Stablecoin bill blocked as Democrats withdraw support
Stablecoins