Meta Returns to the Stablecoin Race, Potentially Creating About $1 Trillion in New Demand for the U.S. Debt Market

Social media giant Meta is quietly planning a return to the stablecoin market. This move not only signifies a strategic shift but could also generate up to $1 trillion in structural demand for the U.S. Treasury market.

According to Coindesk, Meta is exploring stablecoin-based payment solutions with plans to officially launch in the second half of 2026. Unlike during the Libra era, when it aimed to create a private global currency, this time Meta will collaborate with third-party institutions and will no longer issue its own tokens.

This strategic adjustment marks a complete departure from previous models, shifting focus toward the practical value and real-time settlement advantages of digital dollars, while actively avoiding past controversies to prevent reigniting fears over financial sovereignty and platform power.

Analysts believe that, since regulated stablecoin issuers need to back their tokens with short-term U.S. Treasuries, the market forecasts their market cap will reach $2 trillion by 2028, creating approximately $1 trillion in new demand—enough to alter the supply and demand dynamics of U.S. Treasuries.

Moreover, with 3.58 billion daily active users, Meta acts as a “multiplier.” Even with a low penetration rate, it can significantly boost stablecoin volume. This large-scale distribution advantage leads to increased circulation, which will ultimately translate into a rigid demand for Treasury reserves.

Furthermore, the current policy environment has been reshaped since the implementation of the GENIUS Act, shifting the debate from “whether to allow” to “how to regulate.”

Meta’s choice to integrate third-party stablecoins rather than issuing its own precisely positions its product as a payment tool, avoiding balance sheet risks and aligning with regulatory trends.

However, even with a legal framework in place, Meta’s massive user base still raises concerns among regulators. First, there is worry that issuing a monopoly could trigger bank runs and disrupt financial market stability; second, there is concern that its access to billions of user data could pose governance risks to the industry.

Overall, despite the irony, Meta’s return is significant. Once a controversial company for challenging the existing monetary system, it now has the potential to become a major demand source for U.S. Treasuries.

Whether Washington is ready or not, the pace of stablecoin reshaping the Treasury market and its development trend is unstoppable.

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