Self-custodial crypto wallet MetaMask is launching its own native stablecoin, which will be issued by Stripe-owned Bridge.
MetaMask USD ($mUSD) will be integrated into MetaMask’s wallet, promising users a seamless, dollar-denominated stablecoin experience for holding, spending, and transacting in web3.
The stablecoin will initially launch on Ethereum and Linea, the EVM-equivalent layer-2 blockchain created by Consensys, the company that developed MetaMask.
Users will also be able to spend $mUSD at millions of merchants around the world via the MetaMask Mastercard card.
MetaMask is not issuing the token itself, instead partnering with Bridge, the specialist platform recently acquired by payments giant Stripe for over $1 billion.
Gal Eldar, product lead, MetaMask, says: “MetaMask USD is a critical step in bringing the world onchain. By integrating natively into MetaMask’s product offering, it will allow us to cut through some of the most stubborn barriers in web3 and reduce both friction and costs for people onboarding directly into a self-custodial wallet.
"With MetaMask USD, users can bring their money onchain, put it to work, spend it almost anywhere, and use it like money should be used. We’re not just bringing people onchain. We’re building the reason they’ll never want to leave.”