One of my favorite kinds of stablecoin news is the kind that doesn’t tell you it’s stablecoin news.
Meta started paying creators in Colombia and the Philippines in stablecoins (USDC) this week, in partnership with Bridge/Stripe, Solana and Polygon Labs (link in comments).
This is not coincidental, they are both markets with strong existing dollar demand: Colombia’s peso has been under pressure for two years, the Philippines is one of the largest remittance receivers in the world.
The press release barely mentions crypto. The creator dashboard probably mentions it even less. I was one the Payments Partnerships team at (the-company-formerly-known-as) Facebook during Libra.
New brand, new global money, congressional hearings, regulator pushback, years of fallout. This is a refreshing approach: USDC on Polygon, behind Stripe’s existing payout rails, framed to creators as “your money, faster.” Sitting on top of existing payment rails.
The most interesting stablecoin use cases were never going to be the ones with “stablecoin” in the headline. Nobody cares in the real world. They’re the ones where a creator in Manila gets paid Tuesday instead of next month and never thinks about it.
In financial services boring is better.
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