Meta selects Solana and Polygon for creator stablecoin payouts

crypthub

about 3 hours ago

USDC Payout Rollout

Meta began USDC payouts for creators in Colombia and the Philippines. Payments use Solana and Polygon within Meta’s payout platform. Creators add a third‑party wallet; Meta does not convert USDC to fiat. Stripe handles tax reporting; fiat conversion must be done elsewhere.

Strategic Shift

Unlike Libra/Diem, Meta isn’t creating its own coin, just testing stablecoins on public chains. The goal is faster, cheaper cross‑border payouts in underserved markets. A spokesperson says stablecoins are an optional method, not a full crypto push. The program may reach over 160 countries by year‑end.

Industry Reaction

Solana’s official account announced the integration as a high‑profile use case. Solana and Polygon leaders praised the move for growing stable‑coin use. The partnership lifts both networks while Meta uses existing infrastructure. This approach avoids past regulatory hurdles tied to a proprietary coin.