MetaMask Launches First Native USD-Pegged Stablecoin mUSD
MetaMask will launch its stablecoin, MetaMask USD (mUSD), making it the first self-custodial wallet to do so. The stablecoin is backed 1:1 by high-quality dollar-equivalent assets.
Key Details
- Partnership with Bridge and MO for issuance and minting
- Real-time transparency and cross-chain composability via MO’s network
- Launch planned for later this year on Ethereum and ConsenSys's Linea network
- Integration across DeFi platforms aimed at reducing onboarding friction
- Users can hold, swap, transfer, and bridge mUSD within MetaMask
- Potential to spend mUSD via MetaMask Card at Mastercard-accepting merchants by year-end
The stablecoin initiative coincides with a thriving stablecoin ecosystem, which recently achieved almost $1 trillion in monthly on-chain volume. Wyoming launched the Frontier Stable Token (FRNT), its government-backed stablecoin, across multiple blockchains.