It’s now official: MetaMask will have its own stablecoin. Called mUSD, it will be backed by the dollar and designed to integrate natively with the wallet ecosystem and Linea, its layer 2. The goal is to simplify onboarding, attract liquidity, and prepare for the launch of a payment card by 2026.
Yes, the MetaMask crypto wallet will have its own stablecoin: mUSD
Everyone knows MetaMask: for a long time, it was the default crypto wallet for everyone. Today, the wallet developed by Consensys has made official what had become a loud rumor: the launch of its own stablecoin, the mUSD.
As its name suggests, it will be backed by the US dollar. It will be issued by Bridge, a subsidiary of the giant Stripe, and based on the infrastructure of M0, a protocol dedicated to stablecoins and liquidity.
Today, we’re announcing MetaMask USD ($mUSD) – MetaMask’s native stablecoin. 🦊
MetaMask is the first self-custodial wallet to launch a stablecoin, and we have big plans for it. 🧵👇 pic.twitter.com/bbUqYGWXJw
— MetaMask.eth 🦊 (@MetaMask) August 21, 2025
According to the press release, MetaMask’s mUSD will initially be deployed on the Ethereum blockchain as well as on Linea, a layer 2 developed by Consensys. The mUSD stablecoin is expected to play a central role in the Linea ecosystem, particularly in the lending, DEX, and custody sectors. As such, one of its roles will be to attract liquidity in order to increase the TVL of existing protocols.
Why yet another stablecoin?
What will be so special about this stablecoin, given the sea of similar cryptocurrencies (there are around 350 today)? Well, it should be particularly useful for avid crypto wallet users, who should be able to use it to reduce friction in the crypto ecosystem.
MetaMask USD is a key step in bringing the world on-chain. By integrating natively with our offering, it will remove some of the most persistent barriers to web3, reducing friction and costs associated with onboarding to a self-hosted wallet. With MetaMask USD, users can bring their money on-chain, grow it, spend it almost anywhere, and use it like money should be used. We’re not just bringing people on-chain, we’re creating the reason they’ll never want to leave.
Gal Eldar, MetaMask Product Manager
But MetaMask’s biggest asset could come at the end of the year: according to Consensys’ press release, the firm plans to launch its own Mastercard before 2026, which will allow users to pay at “millions of merchants.”
Regarding the collateralization of the stablecoin, Consensys has opted for liquid assets, notably short-term US Treasury bills. This will allow it to generate revenue on a model similar to that of Tether or Circle, which are heavily dependent on T-bills.
As highlighted in the press release, this is the first time that a self-custodial wallet has launched its own stablecoin. The latter is expected to be rolled out on the market in the coming months.
