Report: Meta Considers Launching Stablecoin After Failure of "Diem" Project
A recent report revealed that Meta (formerly Facebook) is considering re-entering the stablecoin market three years after the failure of its "Diem" project due to regulatory pressures and other complications.
According to sources from Ledger Insights, which broke the news today, Meta is exploring the issuance of a dollar-backed digital currency.
This time, however, it may collaborate with external partners to avoid previous pitfalls.
The move comes as stablecoins like Tether and USDC experience significant growth, while Meta faces new regulatory challenges. Although the company has not officially commented, it reaffirmed its commitment to blockchain innovations. Analysts expect Meta to work on building regulatory trust this time to avoid Diem's fate.
Observers suggest this development could strongly reposition Meta in the digital payments space, though its success hinges on regulatory approvals.
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