MetaMask, the popular crypto wallet from Ethereum studio Consensys, has officially unveiled MetaMask USD (mUSD), its own native stablecoin, confirming previous reports.
mUSD will be issued by Bridge, a Stripe-owned stablecoin issuance platform, and minted via M0’s decentralized infrastructure, MetaMask said Thursday. It added that mUSD will be fully backed 1:1 by “high-quality, highly-liquid dollar equivalent assets” with real-time transparency and cross-chain composability via M0’s liquidity network.
"MetaMask USD is fully backed by U.S. cash and short-duration Treasuries, which generate yield," Ajay Mittal, vice president of product strategy at MetaMask, told The Block. "MetaMask benefits from that yield, and in turn, it enables us to improve the user experience across the stack — from potentially lower costs and more seamless integrations."
MetaMask says mUSD is the first stablecoin launched by a self-custodial crypto wallet, positioning it as the default digital dollar unit across its ecosystem.
"We believe the best incentive for holding mUSD is the improved experience it unlocks across DeFi [decentralized finance] — from ramping and bridging to swapping and spending," Mittal said. "Over time, we may introduce additional incentives to reward early users."
The mUSD stablecoin had already surfaced earlier this month in a prematurely posted governance proposal that was quickly taken down.
MetaMask's mUSD to launch later this year
The mUSD stablecoin is slated to debut later this year on Ethereum and Consensys’s Linea network. MetaMask plans deep integrations across Linea’s DeFi stack — from lending markets to decentralized exchanges and custodial platforms — to seed liquidity and reduce onboarding friction. At launch, users will be able to on-ramp, hold, swap, transfer, and bridge mUSD inside MetaMask. The firm also plans to enable spending via the MetaMask Card at Mastercard-accepting merchants is expected by year-end.
The announcement of mUSD comes as stablecoins have crossed nearly $1 trillion in monthly onchain volume and after the passage of the U.S. GENIUS Act, the first federal framework for regulating payment stablecoins. With growing regulatory clarity and usage, MetaMask is positioning mUSD to play a "foundational role" in Ethereum and its own Linea network, deepening liquidity and protocol utility while reducing onboarding friction for its over 100 million users.
"Most stablecoins are issued first and then integrated into wallets," Mittal told The Block. "MetaMask USD flips that model — it’s native to MetaMask from day one. That means it’s not just a store of value, but a stablecoin designed to power every part of the MetaMask experience: ramping, swapping, bridging, and spending."
Bridge co-founder and CEO Zach Abrams said the firm’s tooling compresses stablecoin issuance timelines from “more than a year” to weeks. M0 co-founder and CEO Luca Prosperi emphasized programmability and interoperability as core to mUSD’s design.
Mittal did not disclose an exact launch date or planned issuance size at launch; more technical details and user guides are expected in the coming weeks. "Our priority at the moment is ensuring that all internal and external technical operations surrounding the token are seamless and secure," he said.
In May, MetaMask co-founder Dan Finlay told The Block that the crypto wallet was still considering issuing a native token.
