US tech giant Meta has launched USDC payouts for creators on its platforms in the Philippines and Colombia, with plans to expand to additional markets. Creators who opt into the service will receive payments directly into crypto wallets on the Solana and Polygon blockchains. However, Meta does not offer a built-in conversion option, so an external exchange is required to convert USDC into fiat currency, according to the announcement on Wednesday. The service is currently available only to select creators in Colombia and the Philippines, but Polygon said Wednesday that the stablecoin rollout is expected to expand to more jurisdictions soon.“Live in Colombia and the Philippines, with 160+ markets coming, users now get faster settlement with USDC while gaining access to dollar-denominated assets,” Polygon said. “This is how creators’ lives are improved.”Source: PolygonStablecoins have emerged as a key use case for crypto. Lamine Brahimi, co-founder and managing partner at crypto custody provider Taurus, told Cointelegraph earlier this month that financial institutions across Europe are actively selecting infrastructure partners to support stablecoin adoption.Facebook creators were paid $3 billion last yearCreators who opt for Meta’s stablecoin payout can connect their third-party crypto wallet to Facebook’s payout platform. However, Meta said it “reserves the right to pay” in an alternate payment method in the “event of technical difficulties or unforeseen circumstances.”Meta creators include influencers, educators, and entertainers who earn money by posting content on the company’s platforms, such as Facebook and Instagram. Facebook paid creators nearly $3 billion in 2025, a 35% increase from the previous year, according to the company.Related: Visa adds Polygon, Base support as stablecoin settlement run rate hits $7BCircle’s USDC is currently the second-largest stablecoin by market capitalization with over $77.3 billion as of Thursday, according to decentralized finance analytics platform DefiLlama. The market leader is Tether’s USDt (USDT) with a market cap of $189.4 billion.Meta’s first stablecoin project scrapped in 2022The stablecoin creator payments come years after the company scrapped its open-source stablecoin project Diem, due to friction with regulators.The project faced opposition over privacy and antitrust concerns. Central banks and lawmakers also objected, citing concerns about financial stability, consumer protections and the lack of a clear regulatory framework for crypto at the time.In a January 2022 statement, the project said it was “clear from our dialogue with federal regulators that the project could not move ahead,” and all its assets were sold to Silvergate Capital Corporation.Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEOCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

US Senator Thom Tillis says he will push the Senate Banking Committee to advance the stalled crypto market structure bill, as the text of the bill has made progress and is ready for another vote.Tillis, a key Senate Banking Republican, told reporters on Wednesday that he would ask Senate Banking Committee Chairman Tim Scott “to move forward with scheduling a markup” when the Senate is back in session on May 11.“I think that we’ve made a lot of progress,” Tillis said. “But at the end of the day, until you have a forcing mechanism of a markup, everybody that really doesn’t want it done is going to have one more thing that they want to talk about, and I think it’s time to get it before the committee, move it forward.”The Senate’s crypto market structure bill would lay out how the US’s two most influential financial market regulators would oversee crypto. The House passed its version of the bill, the CLARITY Act, in July, but the Senate’s version has been plagued by delays as lawmakers and lobbyists have sought to edit provisions.Thom Tillis holding a press gaggle with reporters on Wednesday. Source: Chase WilliamsThe Senate Banking Committee delayed the bill’s markup in January after major crypto lobbyist Coinbase pulled its support over a provision banning crypto exchanges from paying stablecoin yields.Banking lobbyists have fought to keep the provision in the legislation, arguing that banning third parties from paying stablecoin yields closes a perceived loophole in the GENIUS Act, which prohibits stablecoin issuers from paying yield.“I believe we’ve heard the concerns [and] addressed a lot of the concerns of the bank,” Tillis said. “There may be a few more that we can get there if they want to come and work in good faith; otherwise, I’m going to encourage the chair to move forward with the markup.”Related: Key US senator lifts block on Trump’s Fed pick Kevin WarshTillis added that he hoped to publicly release the legislative text at least four days before the markup, after crypto and banking stakeholders are given a preview.Other provisions at issue in the bill, which senators have worked to resolve, concern ethics and protecting software developers.On Tuesday, Politico reported that Tillis said the crypto bill would “need to address the law enforcement concerns” around a provision that would protect crypto software developers from prosecution if others commit illegal activity on their platforms.Tillis told reporters on Wednesday that he was “generally in support” of the progress Senator Cynthia Lummis had made on the provision.On Monday, Tillis backed a demand popular among Senate Banking Democrats, saying he wouldn’t support the bill unless it included ethics provisions limiting how government officials can use and promote crypto.“There has to be ethics language in the bill before it leaves the Senate, or I’ll go from one of the people working on negotiating it to voting against it,” Tillis said.Magazine: Will the CLARITY Act be good — or bad — for DeFi?Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.