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15/09/25 23:04 UTC-04

MetaMask Launches Its Own Stablecoin mUSD

The issuance and management of the native stablecoin are carried out through the Bridge platform, acquired by Consensys in February, as well as the decentralized platform M0. The stablecoin’s liquidity is backed by U.S. Treasury bond reserves, the project team assured.

mUSD is integrated into MetaMask Swap and Bridge for cross-chain transfers, and it also supports payments via the MetaMask Card.

MetaMask developers stated that the stablecoin was created in compliance with new U.S. regulatory rules. This is the first case where a non-custodial wallet issues its own stablecoin, fully integrated with its functionality.

MetaMask’s announcements do not specify the initial or target issuance volume of mUSD. However, early statements from MetaMask USD project participants indicate that the future issuance volume of mUSD may depend on user demand and fiat inflows through on-ramps, such as Transak.

Earlier, the founder of the Ethereum browser wallet MetaMask, Dan Finlay, said on The Block podcast that the project developers are actively working on launching MetaMask’s own stablecoin.

See also: "Forward Industries Acquires 6.8 Million SOL Tokens for $1.58 Billion"

#Metamask #mUSD #Stablecoins

Editor: Yulia Krasnaya
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