Meta Reboots Stablecoin Plan: An In-Depth Breakdown of Meta's 2026 Crypto Strategy

In February 2026, a report from CoinDesk caught the entire crypto industry’s attention: Meta plans to re-enter the stablecoin space later this year, negotiating with multiple third-party providers to integrate stablecoin payments and launching a new wallet. This comes exactly four years after the complete shutdown and asset sale of its predecessor, Libra (later renamed Diem).

For Meta founder Mark Zuckerberg, this is not just a strategic adjustment but a “resurrection race” involving trust, compliance, and industry influence. Based on publicly available facts and industry logic, this article will analyze the background of this event and explore its possible development paths.

Overview of Diem: From Global Currency Dream to Asset Sale

Meta’s exploration of stablecoins began in June 2019, when the Libra project was announced with high profile. Its vision was to create a “super-sovereign digital currency” backed by a basket of fiat currencies and government bonds, aiming to leverage Facebook’s billions of users to build a borderless, low-friction payment layer. However, from its inception, this ambitious plan faced global regulatory crackdowns. Under insurmountable political and regulatory pressure, the project scaled back in 2020, rebranded as Diem, focusing on a USD-backed stablecoin, but ultimately failed to launch.

In January 2022, the Diem Association sold its assets to Silvergate Bank for about $182 million, marking the end of a nearly three-year-long grand experiment. Ironically, Silvergate Bank later collapsed amid crypto market turmoil, and Diem’s assets were written down to zero on its balance sheet. Now, Meta seeks to rebuild its payment ambitions from these “ruins.”

Background and Timeline: Key Nodes in a Seven-Year Battle

Meta’s stablecoin journey follows a clear “challenge—compromise—shift” trajectory. The key moments shaping its fate include:

• June 2019: Facebook releases the Libra white paper, proposing a super-sovereign stablecoin backed by a basket of currencies, sparking global regulatory panic.
• October 2019: Zuckerberg testifies before the U.S. Congress; Libra faces tough questioning from bipartisan lawmakers. Founding members like PayPal, Visa, Mastercard, Stripe withdraw from the Libra Association.
• April 2020: Libra releases version 2.0 white paper, making major concessions—planning to launch a USD-pegged stablecoin and abandoning plans for a permissionless blockchain.
• December 2020: Libra rebrands as Diem, attempting to distance itself from its “radical” past.
• January 2022: Diem announces asset sale to Silvergate Bank, officially ending the project.
• 2024-2025: U.S. stablecoin regulation becomes clearer; the GENIUS Act passes, and the Clarity Act is expected to be enacted. Stripe acquires the stablecoin infrastructure platform Bridge for $1.1 billion, with CEO Patrick Collison joining Meta’s board in April 2025.
• February 2026: Media reports reveal Meta’s plan to relaunch stablecoin payments later this year, explicitly adopting a “third-party access model.”

Data and Structural Analysis: From “Issuer” to “Distributor” Model Shift

Unlike the “asset-heavy” model during Libra/Diem, which aimed to control everything, Meta’s current strategy can be summarized as “assembling modular components.” Comparing the before-and-after models reveals Meta’s transformation logic:

The core of this structural shift is outsourcing the most sensitive responsibilities—issuance and compliance—to specialized institutions, while Meta focuses on its strengths: deeply integrating stablecoin payments into WhatsApp, Instagram, and Facebook scenarios, such as cross-border creator tips and e-commerce settlements. This “light-assets, heavy-scenarios” approach significantly reduces political and legal risks.

Public Opinion and Market Expectations

Market views on Meta’s comeback show clear divisions, mainly around:

• Mainstream View 1: Regulatory hurdles are cleared; now is the right time to enter. Supporters believe that the upcoming U.S. GENIUS Act and other stablecoin regulations provide a clear compliance pathway. Stablecoins have shifted from “regulatory panic targets” to “regulated financial primitives,” and Meta no longer needs to be the “rebellious central bank in hoodie.”
• Mainstream View 2: Accessing third-party stablecoins is the only correct approach. Many analysts argue that Libra’s failure taught Meta to dance with regulators. Partnering with compliant payment giants like Stripe (which owns Bridge infrastructure) allows Meta to maintain a “safe distance” from core regulatory pressures like capital reserves and anti-money laundering.
• Controversy Focus: Impact on existing stablecoin giants. The market generally links this event with Circle (issuer of USDC). One view suggests that if Meta adopts USDC, Circle could leverage its vast distribution network to “dim” USDT’s dominance; another fears that if Meta later “reverses” and issues its own stablecoin, it could deal a fatal blow to Circle, invalidating its growth narrative.

Reality Check: Resurrection or Reincarnation?

A key clarification: Meta’s current relaunch is about “stablecoin payments,” not “Diem stablecoin itself.”

Meta spokesperson Andy Stone emphasized in response to rumors: “Nothing has changed; there is still no Meta stablecoin.” Former Libra lead David Marcus has long since left, founding Lightspark, a company focused on Bitcoin’s Lightning Network, and believes only fully decentralized assets can avoid Diem’s pitfalls.

Therefore, strictly speaking, Diem as an independent stablecoin project led by Meta has not “resurrected.” What has “resurrected” is Meta’s strategic intent to leverage stablecoin technology to optimize its payment systems. It no longer aims to be a “creator of currency” but is content to serve as a “super gateway” connecting users with existing digital currencies. This narrative shift—from “redefining finance” to “optimizing payments”—may lack revolutionary flair but is more commercially feasible.

Industry Impact: AI-Driven Financial Infrastructure and Competitive Landscape

Meta’s move could reshape the industry at two levels:

1. Becoming the payment infrastructure for the AI era: Meta is investing heavily in the Llama series of large models. As AI agents begin autonomous tasks (booking hotels, buying goods), they will need a “programmable currency” for seamless machine-to-machine interactions. Stablecoins’ low friction and programmability make them ideal for AI-driven business settlements. Meta’s step may be laying the financial groundwork for its future AI ecosystem.
2. Accelerating the “payment race” among social platforms: Elon Musk’s X platform and Telegram’s TON ecosystem are actively developing payment features. Meta’s entry will extend the “super app” competition from “information flow” to “funds flow.” For the crypto industry, this means stablecoins’ use cases will expand from on-chain transactions and DeFi staking to everyday consumer spending, creating incremental value beyond traditional narratives.

Scenario Evolution and Projections

Based on current information, Meta’s “resurrection race” could evolve along several paths:

• Scenario 1: Win-win cooperation (high probability)

Meta partners deeply with Stripe (and its acquisition, Bridge), ultimately integrating regulated mainstream stablecoins like USDC. Meta gains payment efficiency; Stripe consolidates its infrastructure position; Circle gains massive user scenarios. In this path, USDC’s market cap could see exponential growth, while USDT might face further regulatory barriers and be pushed out of mainstream applications.

• Scenario 2: Gradual “home invasion” (medium probability)

Initially relying on third-party stablecoins, Meta could leverage its channel advantages to quietly test its own brand stablecoin in some markets as data and user habits grow. This would trigger competition with partners and regulatory scrutiny but maximize profit potential.

• Scenario 3: Encountering obstacles again (low probability)

Despite regulatory clarity, Meta’s large user base could pose systemic risks. If data leaks or widespread illegal activity involving stablecoins occurs, it could trigger regulatory and public distrust, halting progress and repeating past failures.

Conclusion

Zuckerberg’s “resurrection race” is no longer against central bank governors or finance ministers but against his own former ambitious, yet arrogant, self from seven years ago. By relinquishing currency issuance rights and embracing compliant infrastructure, Meta demonstrates a deep respect for the real world. This time, it’s not trying to build an independent financial kingdom like Facebook but aims to become the broadest bridge between the existing financial system and the future digital world. For the crypto industry, this may be a more inspiring signal than any “disruption” narrative: when giants stop reinventing the wheel and start pushing it forward at full speed, true mass adoption is just around the corner.