%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptoprowl / Technology giant Meta Platforms (NASDAQ: $META ) is now paying some creators in stablecoins rather than cash. The move by the social media company behind Facebook and Instagram signals a return to crypto-powered payments years after shelving its Libra project. The stablecoins payments are being offered to a limited numberof creators in Colombia and the Philippines, according to Meta Platforms. Eligible users can link a crypto wallet and receive payments in Circle's (NYSE: $CRCL ) USD Coin (CRYPTO: $USDC ) stablecoin. Stablecoins are cryptocurrencies whose value is pegged to another asset, typically the U.S. dollar. The service from Meta is supported by privately held payments firm Stripe, which is providing crypto-related reporting for users. The new payments make Meta Platforms, with more than three billion social media users, one of the largest technology firms to experiment with stablecoins for real-world payments. Stablecoins are increasingly viewed as a faster and cheaper payment method than traditional bank networks. Credit card giant Visa (NYSE: $V ) reported that its stablecoin settlement network hit $7 billion U.S. in annualized transaction volumes during this year’s first quarter, representing 50% year-over-year growth. Meta previously experimented with stablecoins with the introduction of its Libra token, later renamed Diem. That project was shutdown in 2022 amid regulatory scrutiny. META stock has gained 21% in the last 12 months to trade at $672.82 U.S. per share.