Meta Ads Now Support Stablecoin Payment Options
Meta Ads now support payments using stablecoins such as USDC, allowing advertisers to complete transactions through wallets like MetaMask, Coinbase, and Binance. Meta emphasizes that it does not issue or custody stablecoins itself, but instead partners with third-party payment providers. This move is seen as Meta exploring the crypto payment ecosystem with a more cautious approach after the failure of the Libra project.
Did you know that you can now use stablecoins topay for Meta ads？
The answer is yes. Meta now supports any stablecoin wallet compatible with USDC, including major cryptocurrency options such as MetaMask, Coinbase, and Binance.
Meta officially explained: "You can use stablecoins (USDC) to pay for ads on Meta. When you pay with USDC, a third-party payment partner converts your stablecoins into local currency and settles with Meta, after which Meta automatically credits the corresponding amount to your ad account balance."
After years of trying toestablish its own stablecoin solutionwithout success, Meta is now cautiously returning to the cryptocurrency market. Currently, the company has offered creators the option toreceive payments in cryptocurrencyas part of its creator monetization process, while also allowing advertisers to pay for ads using cryptocurrency.
Although Meta, after thefailure of the Libra project, does not plan to launch its own stablecoin or directly engage in the cryptocurrency business.
"Meta will not issue, sell, or custody stablecoins," the company said. "We work with third-party payment providers to support stablecoin payments."
Earlier this year, when Meta introduced cryptocurrency payment options for creators, there was speculation that Meta might consider restarting its crypto project and building its own custodial payment method to counter the existing financial system.
But Meta seems to no longer seek to custody its own in-app payment system, even though it offers more payment options through external crypto projects.
Cryptocurrency has lost mainstream appeal. The initial promises of bypassing bank fees and building community-controlled financial systems have been replaced by security concerns and recourse limitations.
Conceptually, crypto payments could foster closed markets within social media apps. Platforms themselves could offer in-stream payments or even banking services, thereby increasing their value to users.
This is the direction X platform is exploring through its in-stream payment system, X Money. The platform recently announced that X Money has beenmade available to paid X users。
Through X Money, X hopes to position itself as an all-in-one platform combining personal connection and interaction, facilitating social interaction, news consumption, in-stream shopping, and bill payments.
This model has achieved great success in Asia, where apps including WeChat have become key components of digital identity. This has prompted multiple US social apps to explore similar paths.
This may be the reason Meta once tried to build its own payment network, but regulatory restrictions and insufficient consumer interest limited its feasibility.
Perhaps, by allowing different types of crypto payment options, Meta can find an alternative path. This could still lead to the same end goal, so it is intriguing to observe the company cautiously adding more crypto payment options.