MetaMask Introduces Its Own Native Stablecoin
Read Time:55 Second

MetaMask Introduces Its Own Native Stablecoin

MetaMask is set to launch its own native stablecoin, MetaMask USD ($mUSD), issued by Bridge, a platform recently acquired by Stripe. This new stablecoin aims to enhance user experience within the MetaMask wallet by providing a seamless, dollar-denominated option for holding, spending, and transacting in web3.

Initially, $mUSD will be available on Ethereum and Linea, a layer-2 blockchain developed by Consensys, the parent company of MetaMask. Users will also have the opportunity to spend $mUSD at millions of global merchants using the MetaMask Mastercard.

Rather than issuing the token independently, MetaMask is collaborating with Bridge. Gal Eldar, product lead at MetaMask, stated, “MetaMask USD is a critical step in bringing the world onchain. By integrating natively into MetaMask’s product offering, we aim to eliminate significant barriers in web3, reducing friction and costs for users onboarding directly into a self-custodial wallet.”

He further emphasized, “With MetaMask USD, users can bring their money onchain, utilize it effectively, and spend it as they would with traditional money. We’re not just facilitating onchain access; we’re creating compelling reasons for users to stay engaged.”