- Stripe is a long-time partner of the Facebook-parent, with the two companies partnering in 2023 to launch a WhatsApp feature that allows businesses to accept payments directly in chats.
- Last year, Stripe completed the acquisition of Bridge, a company that focused on making it easier for businesses to accept stablecoin payments.
- Stripe CEO Patrick Collison is also a member of Meta’s board of directors.
Meta Platforms Inc. (META) is reportedly planning a revival of its stablecoin efforts later this year, with Stripe Inc. being a potential candidate for the pilot.
According to a CoinDesk report citing people familiar with the matter, Meta has sent out a Request for Product (RFP) to third-party vendors to help facilitate payments in a token pegged to the U.S. dollar.
The report states that Meta is planning to integrate the technology with a vendor to implement the payments system and a new wallet.
Meta shares were up 0.3% in Tuesday’s midday trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.
Senator Elizabeth Warren wrote to Meta in June 2025 to confirm if the company was indeed reviving its stablecoin efforts.
“Big Tech companies’ issuing or controlling their own private currencies, like a stablecoin, would threaten competition across the economy, erode financial privacy, and cede control of the U.S. money supply to monopolistic platforms that have a history of abusing their power,” Warren said in the letter.
Stripe’s Meta Connection
Stripe, one of the likely candidates for Meta’s stablecoin pilot, is a longtime partner of the Facebook parent. In 2023, the two companies partnered to launch a WhatsApp feature allowing businesses to accept payments directly in chats.
Last year, Stripe completed the acquisition of Bridge, a company that focused on making it easier for businesses to accept stablecoin payments. Stablecoins are a type of cryptocurrency whose values are pegged to a real-world asset, such as the U.S. dollar.
Stripe CEO Patrick Collison is also a member of Meta’s board of directors.
Meta’s Previous Stablecoin Attempt
Meta has tried to launch its own stablecoin in the past, with plans to roll it out initially in 2020. The company initially named the stablecoin Libra, but later rebranded it as Diem. However, the company only released rudimentary experimental code before shelving its plans.
However, there was backlash against Meta’s stablecoin plans, with regulators in the U.S., the European Union, and other countries flagging concerns with Diem. In the U.S., both Democrats and Republicans have opposed Meta’s stablecoin, according to a Financial Times report.
META stock is down 3% year-to-date and 5% over the past 12 months.
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