MetaMask has announced its own stablecoin, MetaMask USD (mUSD), becoming the first self-custodial wallet to launch a native stablecoin. The new token will debut later this year on Ethereum and Linea, the Consensys-built layer 2 network. Issued by Bridge, a Stripe company, and powered by decentralized infrastructure provider M0, mUSD will be fully backed 1:1 with liquid dollar-equivalent assets.
According to MetaMask, the token will be deeply integrated into the wallet, giving users access to onramps, swaps, transfers, and bridging across blockchains. By the end of the year, holders will also be able to spend mUSD through the MetaMask Card at millions of Mastercard merchants worldwide. This makes MetaMask the first wallet platform to tie a native stablecoin directly into real-world payments.
Gal Eldar, Product Lead at MetaMask, called the move a breakthrough for self-custody adoption. “MetaMask USD is a critical step in bringing the world on-chain. By integrating natively into MetaMask’s product offering, 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,” he said.
The design of mUSD builds on Bridge’s licensing and reserve management, combined with M0’s decentralized and extensible infrastructure. Luca Prosperi, CEO of M0, said the partnership allows platforms like MetaMask to customize stablecoin technology and focus on interoperability and liquidity. Zach Abrams, CEO of Bridge, added that its platform makes it faster and easier to issue new stablecoins, reducing the launch timeline to weeks.
The launch comes at a time when the stablecoin market is expanding at a fast rate. Total capitalization has climbed past $278 billion, with Tether holding a dominant 60% share and USDC following in second place, according to DefiLlama. Recent regulatory developments also play a role, with the U.S. passing the GENIUS Act, the first federal framework for payment stablecoins.
That said, MetaMask’s entry shows a new trend as wallets join exchanges and fintech firms in issuing stablecoins. With support for Ethereum and Linea at launch, mUSD is expected to play a key role in MetaMask’s growing DeFi ecosystem and future payments strategy.
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