[abvdasker]

Didn't a number of companies led by Facebook already attempt to do this with Libra (Diem) and basically got nuked from orbit by US regulators? I have to assume this is primarily happening now because there is a more favorable (nonexistent) regulatory environment.

[whimsicalism]

the reality is that most new projects started by Meta are going to be nuked from orbit when democrats are in control (even if started during republican control). Stripe has less reputational risk so is less likely to experience the same.

[abvdasker]

From what I have heard it wasn't just the US but other governments as well which came down on them quite hard. States broadly do not like it when a bunch of huge corporations get together to issue their own currency.