A high crypto analyst has reignited hypothesis that Meta, the social media empire led by Mark Zuckerberg, might quickly re-enter the crypto area — this time, in partnership with Sui.
In accordance with CNBC Crypto Dealer Ran Neuner, a Meta-Sui collaboration would provide a sooner path to reviving Zuckerberg’s long-abandoned ambition of launching a blockchain-native stablecoin usable throughout Fb, Instagram, and WhatsApp.
Zuckerberg beforehand invested practically $1.8 billion into Diem (previously Libra), a blockchain and stablecoin initiative that collapsed beneath regulatory strain from the US authorities. However regardless of shelving the venture, the mental property (IP) and technical groundwork didn’t vanish.
The truth is, a lot of that improvement has lived on in three locations: Meta itself, the Aptos blockchain, and Sui. Each Sui and Aptos have been based by former Meta engineers who labored on Diem and its Transfer programming language. Now, with a extra crypto-friendly US administration, Neuner believes Meta might revisit its stablecoin ambitions — however with out the burden of rebuilding a full blockchain workforce from scratch.
“Now that the tides have turned, if they wanted to revive the project, they could either do it themselves and rebuild an entire team, or they could partner up with the team that actually built it,” he wrote, including:
“This is where $SUI comes in!”
Why Sui?
Neuner factors to Sui because the almost definitely candidate for a Meta partnership — and never simply due to its Diem roots. Key former Meta engineers, together with Sam Blackshear (the creator of the Transfer language), @kostascrypto (former head of cryptography), and Eman Abio (former product lead), at the moment are main Sui’s improvement.
Over the previous 4 years, Sui has matured considerably, with improved tooling, developer infrastructure, and an ecosystem able to scale.
“If Meta wants a blockchain-native stablecoin to deploy across its apps, Sui is a natural fit,” the analyst wrote. “It’s fast, secure, and built by the same team that once built Diem.”
Whereas no official announcement has been made, the speculation has gained traction throughout crypto social media. It aligns with Meta’s broader ambitions in Web3 and digital commerce, and will mark a strong comeback within the blockchain enviornment if realized. For now, the concept stays speculative.