Zuckerberg's Meta Seeking Partners for Stablecoin Revival: CoinDesk

Meta – the U.S. technology megacorp helmed by Facebook creator Mark Zuckerberg – has scheduled a stablecoin come back sometime later this year,

What's the Scoop?

• Carpe Diem: According sources cited by CoinDesk, Meta has distributed multiple request for proposals (RFPs) to third-party firms, seeking bids from contractors who would be willing to administer stablecoin-based payments systems. Allegedly, Meta intends on entering the stablecoin space later this year, pending a successful third-party payments integration.
• Refreshed Approach: Meta previously scuttled plans for an in-house "Diem" stablecoin (a digital token pegged to a basket of global reserve currencies and U.S. Treasuries) in 2019 amid murky circumstances and apparent regulatory opposition. This time around, the company is taking a more measured approach by outsourcing work to external partners and shelving grandiose visions of a volatility-resistant currency designed for global scale.
• Massive Reach: Meta counts more than 3B users spread across its Facebook, WhatsApp, and Instagram social networks. Many within the crypto industry perceive Meta's imminent stablecoin embrace as a powerful catalyst for mainstream adoption.