DeutschIt begins quietly, almost inconspicuously – yet it could have far-reaching consequences. The tech giant Meta is currently testing a feature that could change the business model of millions of content creators. Money from social media, directly to the crypto wallet. No detours via banks. No delays. One click – and the earnings flow in coins.
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As several media outlets report, including industry portals referencing company statements, Meta has started initial tests for crypto payments. For now, only selected users in Colombia and the Philippines are affected. A limited circle, deliberately chosen. The strategy behind it seems familiar: first test, then scale.
Meta takes a new shot at crypto – and this time it might work
Specifically, it’s about earnings from platforms like Facebook and Instagram. Influencers, creatives, video producers – they are to be given the opportunity to receive their earnings not only traditionally via bank accounts, but directly in the form of digital currencies. Initially, the stablecoin USDC will be used. A digital dollar pegged to the real US dollar. Payments are made via the Solana and Polygon blockchains – networks known for fast and inexpensive transactions.
Technical processing is handled by payment service provider Stripe, which has increasingly positioned itself in the crypto sector in recent years. The principle is simple: Meta transfers the earnings directly to the creators’ wallets. No waiting for international transfers, no exchange rate problems, no traditional financial hurdles. Especially in countries with less stable banking systems, this could be attractive.
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But the move doesn’t come out of nowhere. Meta has already made several attempts in the crypto space – and failed spectacularly. The projects Libra and later Diem were once intended to establish their own digital currency. Supported by large financial companies, accompanied by political skepticism. Ultimately, the endeavor failed due to resistance from governments and banks. The fear back then: a tech company with billions of users could create a parallel financial system. Too powerful, too independent, too difficult to control. The consequence: regulatory pressure, withdrawal of partners, and finally the end of the projects.
The quiet restart with great potential
This also had personnel consequences. David Marcus, one of the key figures behind Libra and Diem, left the company and founded his own fintech, Lightspark. His focus: fast Bitcoin payments via the Lightning Network. An indirect proof that the idea of digital payment infrastructure lives on – just in a different form.
So now, a new attempt. Less ambitious, but more pragmatic. No proprietary coin, no grand vision of a global payment system. Instead, a concrete use case: Creator Economy meets Crypto. Whether more will come of it remains to be seen. It is still a test. But the direction is clear. Meta is cautiously re-entering a field it once wanted to dominate – this time more carefully, more quietly, but possibly more sustainably.
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And that’s precisely where the real explosiveness lies: When social media and crypto come together, more than just a new payment method emerges. A new ecosystem is created. One that at least questions traditional financial structures. The experiment is underway. The industry is watching closely. (mck)
