What Is MetaMask mUSD?
MetaMask USD (mUSD) is a US Dollar-backed stablecoin launched by MetaMask, the popular :temr:`self-custodial` cryptocurrency wallet developed by ConsenSys. Introduced in August 2025 as the first wallet-native stablecoin, mUSD is designed to simplify cryptocurrency interactions by being fully integrated into the MetaMask ecosystem. It operates on Ethereum and Linea blockchains, allowing users to easily buy, hold, trade, swap, and spend the stablecoin directly within the wallet without needing external exchanges. Backed by partnerships like Stripe’s Bridge for stability and security, mUSD maintains a 1:1 peg to the USD and emphasizes user control over funds in a non-custodial manner.
Beyond basic holding, mUSD offers features like earning passive income through MetaMask’s Stablecoin Earn, powered by Aave, where users can deposit stablecoins such as USDC, USDT, or DAI to generate yields directly in the wallet. It also integrates with trading tools, including perpetual futures, and a rewards program that lets users earn points for holding mUSD. The stablecoin saw rapid adoption, with its circulating supply exceeding $100 million.
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