This move would represent Meta’s most serious step back into crypto since abandoning its Diem (formerly Libra) project in 2021.

Institutions Flock to Stablecoins

Meta isn’t alone. On May 7, Visa announced an investment in stablecoin startup BVNK, signaling strong confidence in tokenized digital dollars. That same day, Stripe launched stablecoin-based accounts across 100+ countries, allowing users to store balances, transfer tokens, or convert them to fiat via bank withdrawal.

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As of May, the total market cap of stablecoins had exceeded $230 billion, underlining their explosive growth and growing role in global finance.

US Sees Stablecoins As A Strategic Tool

In March, World Liberty Financial (WLFI) — a crypto firm backed by Donald Trump — launched USD1, a dollar-pegged stablecoin. By May, USD1 ranked as the seventh-largest stablecoin by market cap.

US Treasury Secretary Scott Bessent emphasized that stablecoins are vital to preserving US dollar dominance. However, the GENIUS Stablecoin Act, which aimed to introduce regulatory clarity, was blocked by Democratic Senators on May 8, stalling momentum.

In a post on X, Bessent criticized the decision, calling it a “missed once-in-a-generation opportunity.”

As Meta weighs its next move, the future of stablecoins sits at the crossroads of technology, finance, and politics.

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