Tech Giant Meta (Meta) wants to implement Stablecoin to manage payments.
Meta also hired Ginger Baker, vice president of products.
Libra, the 2019 blockchain project, is noteworthy given that Libra, the 2019 blockchain project, which was later renamed Diem, crashed in 2022 after intense regulations scrutiny.
As Meta moves on with this project, they enter the sector when Stablecoins (where Digital Tokens are pinned to Fiat currencies like the US dollar) is becoming the hottest trend among crypto and Tradfi companies.
Companies such as Ripple, MasterCard, Visa, Dutch Bank Ing and Stripe are all involved in the Stablecoin industry. In fact, Standard Chartered said the Stablecoin market could increase by $2 trillion by the end of 2028.
read more: Stablecoin Market could grow to 2T by the end of 2028: Standard Charter
