MetaMask's mUSD stablecoin goes live as number of dollar-pegged tokens grows
Quick Take mUSD will be issued by Bridge, a Stripe-owned stablecoin issuance platform, and minted via M0’s decentralized infrastructure.
Crypto wallet MetaMask's new mUSD stablecoin went live on Monday, according to a post to social media.
The company said last month that mUSD will be issued by Bridge, a Stripe-owned stablecoin issuance platform , and minted via M0’s decentralized infrastructure . The stablecoin is fully backed 1:1 by “high-quality, highly-liquid dollar equivalent assets” with real-time transparency and cross-chain composability via M0’s liquidity network.
MetaMask's launch comes on the heels of stablecoin giant Tether unveiling plans to launch a U.S.-compliant stablecoin, USAT. Hyperliquid is also launching a native stablecoin while traditional banks, now that there is regulatory clarity in the U.S., are exploring issuing or integrating tokenized dollars .
MetaMask said in August mUSD is the first stablecoin launched by a self-custodial crypto wallet, positioning it as the default digital dollar unit across its ecosystem.
As of press time on Monday, mUSD's circulating supply was about $18 million, according to its website .
The company has also said users will be able to on-ramp, hold, swap, transfer, and bridge mUSD inside MetaMask. The team, incubated by Ethereum development firm Consensys, expects to enable spending via the MetaMask Card at Mastercard-accepting merchants by year-end.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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