Meta is reportedly planning a return to stablecoins, potentially driving significant demand for U.S. Treasury bills. The social media giant is exploring stablecoin-based payments, likely through a third-party provider, with a rollout expected in the second half of 2026. This move could transform stablecoin reserves into a major source of demand for short-dated U.S. government debt, as stablecoins are typically backed by high-quality liquid assets like Treasury bills. The stablecoin market, currently valued at approximately $309 billion, could see substantial growth under a regulated reserve model. Standard Chartered projects the market could reach $2 trillion by 2028, potentially generating $0.8 trillion to $1 trillion in additional Treasury bill demand. Meta's vast user base could accelerate stablecoin adoption, making it a significant player in the financial ecosystem without directly issuing its own stablecoin.