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Senator Elizabeth Warren has asked Meta CEO Mark Zuckerberg to explain the company’s reported plans to integrate a third-party stablecoin into its social media ecosystem by late 2026. The Senate Banking Committee’s Ranking Member raised concerns over consumer privacy, financial stability, and Meta’s possible role in digital payments across its 3.5 billion-user network.
Warren sent the letter after reports that Meta had begun a 'small and focused trial' using a third-party stablecoin. The reported test could lead to a wider launch next year.
The move would mark Meta’s second major push into stablecoin-related services. Its earlier Libra project, announced in 2019, drew strong opposition from U.S. lawmakers, regulators, and global financial authorities.
Warren said Meta’s earlier Libra plan raised major concerns as it could have given the company broad access to transaction data. She said that data could support Meta’s advertising business.
The senator also said Libra could have allowed Meta to act like a 'private central bank.' She warned that a run on such a currency could create wider risks for taxpayers.
According to Warren, Meta told lawmakers in June 2025 that it had no plans to issue its own stablecoin. Still, she said the company did not disclose its commercial ties with third-party issuers.
She also pointed to possible changes involving MetaPay. Warren asked whether Meta plans to update the wallet so users can hold stablecoins directly on the platform.
Warren asked Zuckerberg to answer seven questions by May 20. She said the answers would help Congress understand Meta’s stablecoin-related plans.
The Senator requested details on the structure of the trial. She also asked about risk controls, privacy protections, illicit finance safeguards, and the launch timeline.
Warren wants Meta to list all third-party stablecoins it has considered for integration. She also asked the company to name any stablecoin already selected.
She further asked whether Meta has chosen a stablecoin with controls that can handle a sudden scale-up. That concern centers on Meta’s global user base of more than 3.5 billion people.
Warren also asked whether Meta would receive profit-sharing payments or transaction-based compensation. She wants to know if Meta would favor one stablecoin over other payment options.
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The letter also focuses on whether Meta will commit to never issuing its own stablecoin. Warren asked whether Meta still stands by its earlier statement to lawmakers.
She also raised concerns about Meta’s record on user privacy. In the letter, Warren accused the company of prioritizing profitability over the privacy of American citizens.
Further, Warren cited Meta’s history of anticompetitive practices. She said any move into payments and financial services should face skepticism.
The pushback comes as stablecoins gain wider use as everyday digital money. The Stablecoin Utility Report 2026 found that 54% of crypto users held stablecoins in the past year.
The report surveyed 4,658 adults across 15 countries. It also found that stablecoin holders now keep about one-third of their total savings in crypto and stablecoins.
At the same time, dollar-pegged stablecoin supply has grown past $303 billion, according to The Block’s data dashboard. Tether’s USDT accounts for $189.7 billion, while Circle’s USDC stands near $79 billion.
Senator Elizabeth Warren’s letter asks Meta to explain its reported stablecoin plans, MetaPay changes, issuer ties, privacy safeguards, and risk controls. The request comes as stablecoin use grows globally, placing Meta’s possible payment expansion under closer congressional scrutiny.
