"Coins instead of dollars"...Meta begins USDC revenue settlement

▲ Meta (META), Stablecoin/AI Generated Image

U.S. tech giant Meta has suddenly introduced a virtual asset-based revenue settlement system in some markets. It is drawing attention as a mainstream social networking service platform directly integrating blockchain technology into its compensation system.

According to cryptocurrency specialized media The Crypto Basic on April 30 (local time), Meta has launched a USD Coin (USDC) settlement service for some content creators in Colombia (CO) and the Philippines (PH). Creators can directly receive their earnings into a compatible virtual asset wallet. Meta stated that this pilot program is being conducted via blockchain networks including Solana (SOL) and Polygon (POL).

Creators must go through a third-party exchange to convert the received USD Coin into local fiat currency. Meta explained that the virtual asset settlement method will solve the settlement delay issues of existing financial systems. It also cited easier access to dollar-based assets for creators worldwide as an advantage.

This service is highly likely to expand globally in the future. Polygon has indicated that the feature will be available in over 160 markets. If the virtual asset compensation model takes root, the financial environment of the global creator ecosystem is expected to undergo significant changes.

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