The social notworking outfit formally known as Facebook things the new decentralised network could rival both Twitter and its decentralised competitor, Mastodon.
A spokesperson told the BBC: "We're exploring a standalone decentralised social network for sharing text updates.
"We believe there's an opportunity for a separate space where creators and public figures can share timely updates about their interests," a spokesmeta said.
A Twitter-like app would allow Meta to take advantage of the current chaos at the Elon Musk-led company, where cost-cutting has been rampant along with a shift to promoting right wing causes. Advertisers who don't want their products associated with anti-semetic wing-nuts have no where to go. If Meta could move into the gap they might shift there. Facebook is not really an option because that has not attracted the interest of younger people.
According to MoneyControl, the new app is codenamed P92, and will allow users to log in through their existing Instagram credentials.
Meta's app will be based on a similar framework to the one that powers Mastodon, a Twitter-like service which was launched in 2016. The new app would be decentralised - it cannot be run at the whim of a single entity, bought or sold.
It was not immediately clear when Meta would roll out the new app.