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MetaMask’s new stablecoin, mUSD, officially went live on Monday, marking the first time a self-custodial crypto wallet has issued its own dollar-pegged token. The launch underscores a broader trend of crypto-native and traditional players entering the stablecoin market following increased U.S. regulatory clarity.
What’s the Scoop?
- Issued by Bridge, Minted by M0: mUSD is issued by Bridge, a stablecoin issuance platform owned by Stripe, and minted using M0’s decentralized infrastructure.
- MetaMask’s First Stablecoin: This marks the first stablecoin launched directly by a self-custodial wallet.
MetaMask intends for mUSD to become the primary stable unit of account across its products. - Rising Stablecoin Competition: mUSD’s debut follows Tether’s announcement of a U.S.-compliant stablecoin (USAT) and stablecoin launches from
Hyperliquid and traditional banks.
