MetaMask rumored to partner with payment giant Stripe to issue new stablecoin 'mmUSD'

The MetaMask community has reported a proposal to issue the stablecoin mmUSD in collaboration with Stripe, combining off-chain settlement and compliance mechanisms, challenging the new market landscape. (Background: The Hong Kong stablecoin bill was released: KYC requirements for holders have sparked controversy, prohibiting DeFi and privacy agreements) (Supplementary Background: Bloomberg Opinion: Hong Kong's taxis demonstrate a perfect case of "stablecoin in daily life") On the morning of August 6, it was reported that MetaMask may be assessing the joint issuance of a new stablecoin called MetaMask USD (mmUSD) with payment giant Stripe. The source of the news is a screenshot posted by the X account Aggr News. Although neither MetaMask nor Stripe has officially confirmed the plan so far, it has attracted community attention, and more details about mmUSD are beginning to emerge. METAMASK TO INTRODUCE "METAMASK USD" STABLECOIN ISSUED BY STRIPE: GOV PROPOSAL pic.twitter.com/Vj7xCp19GZ — Aggr News (@AggrNews) August 5, 2025 What is the collaboration framework between MetaMask and Stripe? According to reports, mmUSD will be issued by Stripe, while MetaMask will integrate currency functions into its wallet with over 30 million active users. For MetaMask, Stripe's vast payment network and compliance capabilities can bring fiat deposit, withdrawal, and auditing services, allowing wallet users to switch between DeFi liquidity pools, exchanges, and yield functions without bearing exchange rate fluctuations or high fees. This move also allows Stripe to directly enter the stablecoin space, which is valued at approximately $260 billion, competing with established players like USDC and DAI. Off-chain settlement brought by M^0 network There are also reports indicating that mmUSD may adopt the "M^0" off-chain settlement framework, emphasizing "non-on-chain minting and redemption," where transactions are first paired and settled off-chain before uploading the final results to the blockchain. This design can reduce on-chain congestion, making fees and confirmation times closer to traditional card organization experiences. At the same time, M^0 reserves modules for freezing, anti-money laundering, and KYC, facilitating direct handling of fiat reserves through regulatory agencies, allowing for flexibility in a potentially stricter regulatory environment in the future. Although it cannot yet be confirmed whether mmUSD will actually be launched, Stripe possesses global licenses and payment infrastructure, which can provide the KYC, AML, and auditing services required by future regulations, lowering MetaMask's costs in applying for licenses and operations in various regions. mmUSD is expected to bring a new collaborative framework to the currently competitive stablecoin market. Related reports: The rhyming lessons of the Internet bubble and cryptocurrency boom, USDe and USDS market capitalization skyrockets! "The ability to stake and arbitrage" against the GENIUS Act's ban on stablecoin interest, Kakao Group announces the launch of stablecoin "against the banking alliance," targeting payments, remittances, and capital markets. "MetaMask rumored to partner with payment giant Stripe to issue new stablecoin 'mmUSD'" This article was first published on BlockTempo (the most influential blockchain news media).