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Meta restarts its stablecoin project, exploring cross-regional payment applications.
Meta is in talks with several Crypto Assets companies to discuss the possibility of cross-regional payments using stablecoins, and has appointed former Plaid executive and current Stellar Development Foundation board member Ginger Baker as vice president of product to drive the related exploration. Sources say discussions are still in the early stages, focusing on dropping payment fees, especially for small payments on the Instagram platform. Previously, Meta launched the Libra stablecoin project in 2019, but abandoned it in 2022 and sold the assets to SilverGate.io. (Fortune)