After a four-year gap, Meta has reentered the stablecoin market. Mark Zuckerberg’s company has begun rolling out digital currency payouts for select creators in Colombia and the Philippines, using USDC on the Solana and Polygon networks.
According to Meta’s webpage, creators must connect a compatible crypto wallet, such as MetaMask, Phantom or Binance, to their Facebook payout account to receive funds.
Meta does not convert USDC to local currency, leaving that step to third-party exchanges, while tax reporting for crypto payouts will be handled in part through Stripe.
This is a developing story. Please check back for further updates.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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