Facebook Monetization Goes Crypto - With Stablecoins

Meta offers monetization programs for Facebook creators, and today it emerged that some creators in the Philippines and Colombia may now receive payouts in USDC on the Solana and Polygon blockchains.

Another data point in a broader trend: it’s stablecoins - not Bitcoin or any other crypto asset - that are gradually becoming the “money of the internet.” Then again, Meta has always leaned toward the fiat side of crypto. Its much-publicized project (Libra, later rebranded to Diem) was also built around a token tied to fiat currencies - specifically, a basket of them.

Meta may have been early with its own cryptocurrency ambitions, but now that the timing is more favorable, it’s relying on an external solution instead.

Interestingly, the step-by-step guide for creators who want to receive payouts to a crypto wallet also mentions two other assets besides USDC: BTC and ETH. Could this be a hint that Meta plans to add them later?

What do you think - do traditional cryptocurrencies still have a shot at reclaiming part of the payments role, or has that territory effectively shifted to stablecoins?

And if you’re receiving payouts in USDC but prefer to store value in assets that aren’t tied to the constantly depreciating dollar, take a look at rabbit.io. You can swap USDC for any crypto at the best rates, without the usual friction.