Launch of MetaMask USD: MetaMask has officially launched its own stablecoin, MetaMask USD ($mUSD), marking the first time a self-custodial wallet has created a stablecoin.
Backing and Compliance: $mUSD is issued by Bridge, a Stripe-owned platform, and is fully backed 1:1 by U.S. cash and short-term Treasuries to ensure stability and transparency.
Integration and Use Cases: The stablecoin will be integrated into the MetaMask wallet, allowing users to easily manage their funds and will initially be available on Ethereum and Linea, with plans for use in lending markets and decentralized exchanges.
Real-World Spending: By the end of the year, users will be able to spend mUSD using the MetaMask Card at millions of Mastercard merchants, bridging the gap between crypto and everyday transactions.
