Senator Elizabeth Warren is demanding transparency from Meta regarding its reported plans to integrate a third-party stablecoin into its social media ecosystem by the second half of 2026.

In a letter to CEO Mark Zuckerberg, the Ranking Member of the Senate Banking Committee raised concerns that the move could compromise financial stability and consumer privacy across Meta’s 3.5 billion-user network.

The Senator cited recent reports indicating that Meta is currently conducting a "small and focused trial" using a third-party stablecoin ahead of a broader rollout next year.

This marks Meta's second attempt at stablecoin-related business, the Senator said, noting that the company’s 2019 Libra project had faced bipartisan opposition from U.S. lawmakers, regulators, and international financial authorities “for a good reason.” 

According to the Senator, a successful implementation of Meta’s Libra project could have enabled the company to harvest transaction data for its advertising business and operate effectively as a “private central bank.” Warren wrote that, in the event of a run on the currency, taxpayers would likely have been asked to backstop the system, similar to risks seen in other private stablecoin arrangements.

While Meta told lawmakers in June 2025 that it had no plans to issue its own stablecoin, Warren claimed the company failed to disclose its commercial relationships with third-party issuers or potential updates to its MetaPay wallet.

“It is critical that Meta be transparent with Congress and the public regarding its stablecoin-related plans,” Warren wrote in the letter. “Beyond the failure of its previous attempt to issue its own global private currency, the company has struggled to safely offer its existing products and services.”

Warren further criticized Meta for “prioritizing profitability” over the privacy of American citizens and cited a history of “anticompetitive practices” as a reason for concern. The Senator warned that any expansion into payments and financial services by the company “should be treated with skepticism.”

Warren seeks disclosure on trial structure, controls and launch timeline

Senator Warren requested that Zuckerberg respond to seven detailed questions by May 20 to help her "better understand Meta's stablecoin-related plans."

Among the questions, Warren asked whether Meta intends to make changes to the MetaPay wallet that would enable users to hold stablecoins as funds on the platform instead of merely storing payment credentials. She also requests a list of all third-party stablecoins Meta has considered for integration, including which stablecoins have been selected.

The Senator wants to know if Meta has selected a third-party stablecoin with risk management controls in place to scale safely in the event that more than 3.5 billion users suddenly have access to it. Warren also asked whether Meta will have a profit-sharing or transaction-based compensation structure with the third-party stablecoin and whether Meta intends to preference that stablecoin over other payment options.

Additional questions address privacy guardrails, illicit finance controls, and whether Meta will commit to never issuing its own stablecoin or other product that functions as a private currency. Meta told lawmakers last year that it had no plans to issue a stablecoin. Warren is asking if that remains true.

Stablecoin adoption 

The pushback comes as stablecoins increasingly function as "everyday money" globally. According to The Stablecoin Utility Report 2026, a survey of 4,658 adults across 15 countries, 54% of crypto users held stablecoins in the past year. The study found that holders now allocate approximately one-third of their total savings to crypto and stablecoins. 

This adoption is reflected in the total dollar-pegged supply, which has surpassed $303 billion, according to The Block’s data dashboard. Tether’s USDT accounts for $189.7 billion of that total, while Circle’s USDC stands at roughly $79 billion.

Expand Chart

Notably, some industry participants view Meta’s entrance into the sector as a necessary step for the maturation of the digital asset market. Bitwise CIO Matt Hougan recently noted that pilots from firms like Meta and DoorDash, which is testing stablecoin payouts for its 10 million Dashers, could help drive total stablecoin supply to $4 trillion by 2030. 

Hougan stated that the primary advantage of these platforms is the simplicity of using a single wallet address for global micropayments without relying on traditional banking infrastructure.