Stripe-Supported mUSD Launch Marks MetaMask's Entry into Stablecoin Competition

MetaMask, a self-custodial wallet developed by Consensys, has launched its native stablecoin, MetaMask USD (mUSD), marking the first instance of a self-custodial wallet issuing a native stablecoin. The stablecoin, issued by Stripe-owned Bridge, will operate on-chain through M0, a decentralized infrastructure for stablecoin liquidity. mUSD will be directly embedded into MetaMask’s interface, allowing users to transact and bridge dollar-denominated value within the app. Initially, mUSD will be available on Ethereum and Consensys-backed Layer 2 network Linea, with plans to integrate into core decentralized finance protocols.

Additionally, MetaMask plans to extend mUSD's use to everyday spending, with a MetaMask Card set to launch in partnership with Mastercard. The launch follows the passage of the US GENIUS Act, which provides federal guidelines for payment stablecoins.