NEW YORK — Aug. 21, 2025 — MetaMask, the world’s leading self-custodial crypto wallet, has unveiled its own U.S. dollar-backed stablecoin, MetaMask USD (mUSD), marking the first time a self-custodial wallet has issued a proprietary digital dollar.
The new token is issued by Bridge, a stablecoin platform under Stripe, and built on decentralized infrastructure provider M0. According to the company, mUSD will be fully backed 1:1 with high-quality dollar-equivalent assets, such as cash and U.S. Treasuries, offering transparency and regulatory compliance.
MetaMask said the stablecoin will be deeply integrated into its wallet ecosystem, allowing users to on-ramp, swap, bridge, and hold mUSD directly inside the app. The token will first launch on Ethereum and Linea, Consensys’s EVM-equivalent Layer-2 network, where it is expected to play a key role in decentralized finance.
The company also revealed plans to enable real-world spending through the MetaMask Card, which would allow mUSD to be used at Mastercard-supported merchants globally by the end of 2025.
The announcement comes as the U.S. GENIUS Act, a new federal framework for payment stablecoins, provides regulatory clarity for issuers. Analysts say the move positions MetaMask as a direct competitor to existing stablecoins such as USDC and USDT, with the added advantage of wallet-native integration.
Industry observers note that adoption metrics—including on-chain transaction volumes, liquidity across decentralized exchanges, and traction on Linea—will be critical indicators of mUSD’s success.
“mUSD isn’t just a stablecoin, it’s a utility layer,” MetaMask said in its official announcement. “We’re building financial infrastructure that makes digital dollars more usable and accessible across Web3 and beyond.”
For now, the stablecoin launch signals a strategic evolution for MetaMask, extending beyond being just a gateway to crypto into becoming a full-scale financial ecosystem.
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