MetaMask, the Ethereum-based cryptocurrency wallet with over 30 million monthly active users, will unveil its U.S. dollar-pegged stablecoin mUSD this week, with a live deployment scheduled by month's end according to sources. The launch follows a prematurely leaked governance proposal last week and involves key partnerships with Bridge (acquired by Stripe in 2025) for stablecoin infrastructure and Blackstone for custody and treasury management services.
The collaboration leverages Bridge's payment rail expertise and M^0's stablecoin protocol, while Blackstone's involvement signals institutional-grade asset management. mUSD aims to integrate directly into MetaMask's ecosystem, offering users reduced transaction fees, seamless DeFi participation, and protection against crypto volatility through its dollar peg.
This strategic move allows MetaMask to capture yield from reserve assets like U.S. Treasuries, mirroring models used by USDT and USDC. Despite entering a competitive stablecoin market, mUSD's backing by Stripe and Blackstone provides significant credibility. Challenges include navigating global regulatory scrutiny and differentiating from established players while ensuring technical stability.