MetaMask to debut wallet-native stablecoin mUSD on Ethereum and Linea

Key Takeaways

MetaMask will soon launch its native stablecoin mUSD on Ethereum and Linea networks.
mUSD will support on-ramps, swaps, bridging, and card payments, aiming to reduce user friction in web3.

MetaMask confirmed Thursday that it is preparing to launch MetaMask USD ($mUSD), its flagship stablecoin, later this year. The announcement follows earlier reports that the popular crypto wallet would soon introduce the token.

Consensys, the parent company of MetaMask, described the stablecoin as “a critical step forward in bringing the world onchain,” especially amid growing adoption and the clarity provided by the GENIUS Act, which sets a federal framework for payment stablecoins.

The MetaMask stablecoin, issued by Bridge, will first be rolled out on Ethereum and Linea, the Ethereum layer 2 network backed by Consensys, and support on-ramps, swaps, bridging, and more.

The coin is powered by M0, a decentralized stablecoin infrastructure platform, and is backed 1:1 by dollar-equivalent assets with real-time transparency. MetaMask plans to integrate $mUSD into the MetaMask Card by year-end, enabling users to spend it at millions of Mastercard merchants.

According to Gal Eldar, Product Lead at MetaMask, the aim of $mUSD is to make web3 and self-custody as seamless as traditional money. The stablecoin is designed to remove common onboarding hurdles, reduce intermediaries and fees, and soon integrate with the MetaMask Card to enhance everyday usability.

“It will allow us to cut through some of the most stubborn barriers in web3 and reduce both friction and costs for people onboarding directly into a self-custodial wallet,” said Eldar. “With MetaMask USD, users can bring their money onchain, put it to work, spend it almost anywhere, and use it like money should be used.”

“We want to empower the builders of great crypto products to truly control the digital dollar stack they utilize in order to deliver the best end-user experience,” said Luca Prosperi, co-founder and CEO of M0.

“Issuing a custom stablecoin used to take more than a year of complex integrations,” said Zach Abrams, co-founder and CEO of Bridge. “With our issuance technology, we’ve reduced that timeline to a matter of weeks.”

Rumors of a MetaMask MASK token have floated around for years, especially after ConsenSys CEO Joseph Lubin suggested in 2022 that a token and DAO could guide MetaMask’s decentralization.

However, MetaMask has consistently denied those rumors, and now it’s clear its attention is on MetaMask USD. The company said it will share more details about the product in the coming weeks.