MetaMask’s mUSD Stablecoin Supply Surges 300% in One Week

The new MetaMask USD-pegged stablecoin, mUSD, has reached a circulating supply of $65 million, marking a 300% increase from its initial $15 million within one week.

As of September 22, mUSD's circulation was primarily on Linea (88.2%), with the remainder on Ethereum (11.8%).
24-hour trading volume rose by 22.41%, reaching $286,120.

MetaMask launched mUSD in partnership with Bridge and MO, backed 1:1 by US cash and short-duration Treasuries to provide yield. The launch aims to enhance user experience with lower costs and seamless integrations, allowing investors to hold more funds within Ethereum’s ecosystem, reducing reliance on rival networks.