Meta to relaunch stablecoin project in H2, CoinDesk reports

Meta plans to relaunch its stablecoin project in the second half of this year, CoinDesk reported, citing three sources familiar with the matter. The company has reportedly sent a Request for Proposal (RFP) to third-party firms to support the management of stablecoin-based payments. The sources added that Stripe is a strong candidate to run the pilot program. Meta previously attempted to issue its Libra stablecoin (later renamed Diem) in 2019, but the project was shut down in early 2022 following opposition from U.S. lawmakers. This time, the sources explained, Meta is looking to issue the stablecoin through a third-party payment processor.