MetaMask Confirms Plans to Launch Native Stablecoin (mmUSD) in Partnership with Stripe.
MetaMask, the leading Ethereum wallet with over 100 million users, is preparing to launch its own dollar-pegged stablecoin, tentatively named MetaMask USD (mmUSD). The project is being developed in collaboration with Stripe, the global fintech giant, and leverages the M^0 network for decentralized issuance and settlement.
MetaMask Confirms Plans to Launch Native Stablecoin (mmUSD)
Stripe will handle fiat-backed issuance, while M^0 (a stablecoin infrastructure platform) ensures decentralized settlement. This aligns with Stripe’s recent $1B acquisition of stablecoin project Bridge in 2024.
What is the Purpose of mmUSD?
Designed as the “cornerstone asset” for MetaMask’s ecosystem, integrating seamlessly into:
- Wallet swaps
- Buy/Sell features
- Earn/yield products
Aims to reduce volatility in DeFi transactions and enhance liquidity
Regulatory & Market Context
Follows the U.S. GENIUS Act (July 2025), which established federal stablecoin regulations. Part of MetaMask’s broader push into financial services, including its recent Mastercard-backed crypto debit card.
Controversies & Concerns
Some criticize the move as “too centralized”, given Stripe’s involvement and off-chain settlement via M^0. MetaMask has not yet disclosed reserve audits or a launch timeline.
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