Meta has issued a request for proposals (RFP) to third-party firms for stablecoin-based payments, potentially marking a comeback in the stablecoin market with Stripe as a possible partner.
Meta is planning to deploy a stablecoin this year after issuing a request for proposals (RFP) to third-party companies, CoinDesk reported on Tuesday, Feb. 24.
CoinDesk also noted that a potential partnership with payments giant Stripe could be in the works, though no official confirmation has been made. A potential collaboration with Stripe would leverage the payment company’s expertise and existing infrastructure in the stablecoin domain.
The development comes as the company seeks to re-enter the stablecoin market following the collapse of its previous Libra/Diem project due to regulatory pressures. The stablecoin sector currently boasts a market capitalization of over $308 billion, up from $206 billion in January 2025, according to DeFiLlama.
Meta initially launched its Libra stablecoin in 2019, later rebranded to Diem, but the project was shuttered amid intense regulatory scrutiny. This setback underscored the challenges that large tech companies face in navigating the complex landscape of financial regulations.
This article was generated with the assistance of AI workflows.