Overview
- Meta, which disclosed Wednesday it had begun a limited test, is offering USDC payouts to select creators in Colombia and the Philippines.
- Eligible users must connect a third-party crypto wallet that supports USDC on Solana or Polygon, and cashing out requires using external exchanges with possible fees.
- Stripe confirmed it is supporting the rollout and will provide crypto-specific transaction and tax reporting, with its Link service enabling stablecoin payouts.
- Meta is using Circle’s USDC, a dollar-pegged token, and it stressed it is not issuing its own coin after shutting down Libra, later Diem, in 2022.
- For creators, the setup can speed cross-border earnings compared with bank transfers, though they must manage wallet security, keep records for taxes, and handle currency conversion off platform.