MetaMask is launching its stablecoin mUSD, pegged to the dollar and Treasury bonds, available on Ethereum and Linea with real-time transparency and cross-chain interoperability.
It’s the first time a self-custodial wallet is issuing its own stablecoin, which MetaMask aims to make the default unit of account within its ecosystem and beyond.
mUSD will be integrated from the start in DeFi, the Linea network, and the MetaMask Card, as the stablecoin market has just surpassed $1 trillion in monthly volumes with strengthened legal framework in the US.
A stablecoin designed for the MetaMask ecosystem
MetaMask is stepping up its game. The world’s most used crypto wallet is preparing to launch MetaMask USD (mUSD), its own stablecoin, set to be available by the end of the year on Ethereum and Linea, Consensys’ in-house blockchain. Behind the issuance, we find Bridge, a subsidiary of Stripe specialized in stablecoins, along with M0‘s decentralized infrastructure.
No makeshift copies of existing models: mUSD will be backed 1:1 by US cash and short-term Treasury bonds, with real-time transparency and cross-chain interoperability. MetaMask promises a solid and immediately usable foundation throughout its ecosystem.
Why a MetaMask-signed stablecoin changes the game
The real novelty is that a self-custodial wallet takes the initiative to issue its own stablecoin – a first in DeFi history. For MetaMask, the goal is clear: to make mUSD the default unit of account in its universe. Ajay Mittal, VP of Product Strategy, states:
We believe the best incentive to hold mUSD is the enhanced experience it unlocks in DeFi, from access ramps to swaps, bridging, and payments.
In essence, MetaMask wants users not to have to wonder which stablecoin to use: mUSD will become the keystone of the experience.
Deep integration into DeFi, but no yield for now
Upon launch, users will be able to buy, hold, exchange, transfer, and bridge mUSD directly from their MetaMask app, but all revenue generated by the collateral will go to MetaMask.
We believe the best argument for holding mUSD is the improved experience it offers across DeFi, from ramping and bridging to swapping and spending.
Over time, we could introduce additional incentives to reward early adopters.
The integration will go beyond: lending, DEX, custody platforms, the entire Linea ecosystem will be equipped to quickly absorb the new token’s liquidity.
Another growth lever: the MetaMask Card, backed by Mastercard, will allow spending mUSD in the real world before the end of the year. A way to bridge DeFi and everyday payments.
Explosive context for stablecoins
The timing is no coincidence. Stablecoins have just surpassed $1 trillion in on-chain monthly volumes. At the same time, the US has passed the GENIUS Act, the first federal framework dedicated to payment stablecoins. This combination of massive usage + regulatory clarity paves the way for a new era where only credible and integrated players will survive. MetaMask clearly aims to establish itself within this select circle.
A future pillar of the Ethereum ecosystem?
Most stablecoins are issued first, then integrated. MetaMask USD reverses this model: it’s native from day one.
The bet is simple: to make mUSD the universal reference in the MetaMask experience, where USDC and USDT have dominated so far without direct competition.
The stablecoin battle, already fierce, has gained a new contender… but not just any: the wallet of 100 million active users.
