
MetaMask, the prominent self‑custodial digital wallet developed by ConsenSys, is introducing its proprietary stablecoin, MetaMask USD (mUSD), slated to launch in 2025 on both Ethereum and the ConsenSys‑backed Layer‑2 network Linea. The initiative represents the wallet’s first foray into native stablecoin issuance, designed to further integrate fiat utility directly into decentralized finance and Web3 applications.
This stablecoin will be issued through Bridge, Stripe’s recently acquired stablecoin arm, while M0 will provide blockchain-native liquidity infrastructure. MetaMask emphasizes that mUSD will be fully backed on a 1‑to‑1 basis by highly liquid dollar-equivalent assets. Its integration within the MetaMask wallet will support seamless on‑ramps, token swaps, cross‑chain transfers, and bridging, aligning with MetaMask’s mission to simplify the self‑custodial Web3 experience.
Looking ahead, MetaMask plans to equip its MetaMask Card, in partnership with Mastercard, enabling real-world spending of mUSD at merchant locations worldwide. According to product lead Gal Eldar, the initiative aims to reduce user friction, streamline onboarding, enhance cost efficiency, and enable users to move funds on‑chain, participate in DeFi, and use the stablecoin in everyday transactions.
The rollout of mUSD coincides with heightened regulatory clarity in the United States following the passage of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), signed into law by President Trump on July 18, 2025. This landmark legislation sets forth federal licensing frameworks for stablecoin issuers, mandates 1:1 reserve backing with high‑quality assets, prescribes transparency and audit requirements, and establishes consumer protection safeguards. Notably, it prioritizes stablecoin holders in the event of issuer insolvency.