Meta Platforms in Talks with Crypto Firms to Deploy Stablecoins, Hires VP of Product Three Years After Libra
1 min read
Meta Platforms Inc. is reportedly in discussions to deploy stablecoins, marking a return to the cryptocurrency space three years after abandoning its landmark Libra project due to regulatory pressures. According to Fortune, Meta is engaging with crypto firms to introduce stablecoins primarily as a means to manage payouts. The company has also hired a vice president of product with experience in cryptocurrency, signaling a renewed strategic focus on digital assets. This move follows the regulatory challenges that forced Meta to halt its initial cryptocurrency initiative, Libra, which was intended to create a global digital currency. The talks to deploy stablecoins indicate Meta’s continued interest in integrating blockchain-based financial solutions within its ecosystem. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Source: The Defiant
