Meta plans to re-enter the stablecoin market in the second half of this year.

According to CoinDesk, sources familiar with the matter revealed that Mark Zuckerberg's tech giant Meta plans to re-enter the stablecoin market in the second half of this year. It is reportedly planning to integrate third-party vendors to support stablecoin payments and launch a new wallet. The sources stated that Meta has already extended product request invitations to third-party companies, with long-term partner Stripe being a potential candidate for the pilot program. Meta first attempted to launch the Libra stablecoin (later renamed Diem) in 2019, but failed due to regulatory hurdles and the Cambridge Analytica scandal. The project was shut down and assets were sold off in early 2022.