Rumor has it that Meta is making a comeback? Three years later, re-examining the stablecoin deployment plan, the ambitions of Libra/Diem are resurfacing.

After a three-year suspension of its crypto asset plans, Meta is returning to the blockchain world, reportedly negotiating with several encryption companies on stablecoin applications, targeting cross-border payments and the creator economy.

Zuckerberg's former encryption dream has risen again.

Do you still remember the ambitious encryption project "Libra" proposed by Meta (then still known as Facebook) in 2019? This plan, which was originally expected to achieve global digital payments on platforms like Facebook and WhatsApp, was ultimately halted due to strong opposition from Congress and regulatory agencies. Now, according to multiple sources, Meta seems to be preparing to return to the world of Crypto Assets, but this time the main character has changed to a lower-risk stablecoin.

(Meta Blockchain project leader: Diem's collapse is a political issue rather than regulatory, exposing the massive political and banking interests behind it)

Meta rekindles interest and actively engages with encryption companies.

According to an exclusive report from Fortune, Meta is currently in talks with several crypto infrastructure companies to discuss the possibility of applying stablecoins in the payment sector. Five informed sources revealed that these negotiations are still in the early stages, but Meta seems quite interested in the characteristics of stablecoins such as "low transaction fees and fast cross-border transfers."

Senior executives from a crypto infrastructure company have pointed out that Meta's Instagram may adopt stablecoins as a tool for paying small amounts (such as $100) to global creators, thereby saving on the transaction fees associated with traditional fiat transfers.

Key personnel layout rekindles confidence?

Meta appointed Ginger Baker as Vice President of Product this January, further demonstrating the company's focus on fintech and crypto payments. According to her LinkedIn profile, Baker has a rich background in fintech, having worked at Plaid, and served as a board member at the Stellar Development Foundation, which manages the Layer 1 Blockchain of the encryption organization.

Insiders revealed that Baker is assisting in promoting Meta's stablecoin exploration project. However, Meta has not publicly responded to this and has not arranged for an interview with Baker.

Players in the circle are taking frequent actions, stablecoins are trending.

Meta's movements come at a time when the entire stablecoin market is rapidly heating up. With former President Trump winning the election last November, coupled with the Biden administration easing its strict regulations on Crypto Assets, stablecoins are once again attracting attention from the market and enterprises.

Not only that, the large payment platform Stripe recently acquired the stablecoin startup Bridge for $1.1 billion and announced a partnership with Visa to develop stablecoin infrastructure. Fidelity has also announced that it is developing its own stablecoin product, indicating that traditional financial institutions are fully embracing blockchain payments.

Old dreams rekindled? Lessons from Libra's failure

Meta's past ambitions in the crypto space once shocked the entire financial system. The "Libra" project gathered heavyweight companies like Uber and PayPal, intending to launch a global stablecoin backed by multiple fiat currencies. It was later renamed "Diem", but ultimately was forced to terminate in 2022, with related assets sold to the crypto-friendly SilverGate.io bank.

Although the Diem project has failed, the technology and personnel of the Libra team have not dispersed. For example, David Marcus founded the Bitcoin payment infrastructure company Lightspark; other former employees have developed blockchain projects such as Aptos and Sui, which use the Move programming language developed by Meta.

Zuckerberg personally admitted that "Diem is dead" but his attitude has shifted to being more open.

Meta founder and CEO Mark Zuckerberg admitted at the Stripe conference this week that the Diem project has failed: "That thing is dead." However, he also added that while Meta often becomes an early bird in technology trends, it sometimes falls behind market trends, stating: "We are also good at catching up."

This statement seems to reveal Meta's strategic shift regarding stablecoins, moving from creating a global currency to seeking practical application scenarios, such as micro payments, creator rewards, and cross-border transfers.

This article rumors that Meta is making a comeback? Three years later, it re-examines the stablecoin deployment plan, the ambitions of Libra/Diem resurface, first appearing in Chain News ABMedia.