Senator Warren Raises Concerns Over Meta’s Stablecoin Payment Plans

Highlights:

• Elizabeth Warren asked Meta to explain its stablecoin payment tests and possible wider rollout plans.
• Warren warned Meta’s stablecoin activity could affect privacy, competition, payments, and financial stability.
• Meta reportedly tested USDC payments for some creators in Colombia and the Philippines.

U.S. Senator Elizabeth Warren has asked Meta CEO Mark Zuckerberg to explain the company’s latest stablecoin plans after reports that Meta tested stablecoin payments for some creators. Fortune reported on Thursday that Warren sent a letter raising concerns about Meta’s trial and potential wider rollout plans. She warned that the company has not been clear enough about its work in digital payments.

Warren said Meta’s large global reach could make any stablecoin activity important for regulators. She said Congress needs to understand Meta’s plans as it considers broader crypto market legislation.

WARREN GOES AT META OVER STABLECOIN PILOT

Senator Elizabeth Warren (@SenWarren) delivered a letter to Mark Zuckerberg, calling Meta's "lack of transparency" around its stablecoin plans "troubling," following Meta's quiet rollout of stablecoin payments for some Facebook creators… pic.twitter.com/GkDhVVxd3w

— BSCN (@BSCNews) May 7, 2026

Warren Flags Risks Around Meta Stablecoin Payments

Warren’s main concern is not only whether Meta plans to issue its own stablecoin. She also wants to know how much control Meta could have if it supports a third-party stablecoin on Facebook, Instagram, WhatsApp, or other company platforms.

The letter said that even a stablecoin issued by another company could raise major questions if Meta controls, influences, or gives it special treatment. Warren also questioned whether Meta could change MetaPay to let users hold stablecoins as funds on the platform, rather than only storing payment details.

The issue is important because Meta has a huge global user base. If the company adds stablecoin payments at scale, it could give millions of users a new way to send or receive money online. At the same time, lawmakers may worry that a Big Tech company could gain too much influence over digital payments. The Senate Banking Committee said reports now show Meta is conducting an active stablecoin trial and plans to begin full integration in the second half of 2026. 

Reports said Meta has tested stablecoin payments for some creators in Colombia and the Philippines. The test reportedly uses USD Coin (USDC) and requires users to connect a third-party crypto wallet. USDC is a dollar-linked stablecoin issued by Circle.

The future of marketplace commerce is on Polygon.@Meta launched stablecoin payouts for creators on the Polygon Chain.

Live in Colombia and the Philippines, with 160+ markets coming, users now get faster settlement with USDC while gaining access to dollar denominated assets. pic.twitter.com/hjodzNpuyU

— Polygon | POL (@0xPolygon) April 29, 2026

Meta’s Past Crypto Efforts Add Pressure

Warren also referred to Meta’s earlier crypto project, Libra. Meta announced Libra in 2019 as a global digital currency project. It later changed its name to Diem, but the project faced strong pressure from lawmakers and regulators. Meta eventually abandoned the effort after failing to win enough trust and regulatory support.

That history is one reason Meta’s new stablecoin-related activity is drawing close attention. Lawmakers were worried at the time that a Big Tech company with billions of users could create a private money system outside normal banking controls.

Warren said Meta had previously told lawmakers that it had no Meta-issued stablecoin and no plans to issue one. However, she said the company did not provide sufficient detail about any potential stablecoin-related business with third parties.

U.S. Senator Seeks Details on Meta’s Stablecoin Plans

Warren asked Meta to respond by May 20. She wants clear details about the company’s stablecoin trial, possible partners, payment plans, wallet updates, and Meta’s control over any stablecoin used on its platforms.

The timing is important because U.S. lawmakers are working on new crypto rules. Stablecoins have become a major part of this debate because they are widely used in crypto trading and digital payments. Supporters say stablecoins can make payments faster and cheaper. However, critics warn that they could create risks if large companies use them without clear rules.

For now, Meta has not announced its own stablecoin. Still, the reported trial shows that the company is exploring how stablecoins could fit into its payment system.