In an important step, the MetaMask wallet announced the launch of its own stablecoin, MetaMask USD ($mUSD), in collaboration with Bridge and M0. This currency, issued by Bridge and supported by the M0 protocol, represents a significant advancement in the world of stablecoins.
Features of MetaMask USD:
* Launching on the Ethereum and Linea networks: The currency will initially launch on the Ethereum and Linea networks, playing a key role in supporting the growing decentralized finance (DeFi) ecosystem on the Linea network.
* Multiple functionalities: The new currency will support deposits (onramps), swaps, transfers, and bridging between networks directly from within the wallet, providing a seamless experience for users.
* Real-world use: Users are expected to be able to use $mUSD in their daily transactions via the MetaMask Card, which will be accepted by millions of merchants that accept Mastercard by the end of the year.
* Transparency and institutional support: According to reports, the currency is backed by short-term U.S. Treasury bonds and utilizes institutional players like Blackstone to manage reserves, providing a high degree of transparency and reliability.
This move positions MetaMask in direct competition with major stablecoins like USDT and USDC, aiming to make transactions on the decentralized web (Web3) easier and more accessible for millions of users.
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