MetaMask announced the launch of its stablecoin mUSD on September 15, 2025, marking the first time a self-custodial wallet has issued its own native token. Powered by Transak, mUSD is available in the U.S. and EU and is pegged 1:1 with USDC and USDT.
The stablecoin is fully integrated into MetaMask’s ecosystem, supporting swaps, bridging, and payments. Users can spend mUSD with the MetaMask Card at over 150 million merchants worldwide. According to current data, mUSD has a market cap of $18.01 million, a circulating supply of $18.04 million, and a 24-hour trading volume of $20.34 million.
Beyond payments, mUSD provides liquidity for DeFi activities such as trading, lending, and remittances, while offering low-cost fiat onramps and strong liquidity on LineaBuild. The launch also introduces new features in MetaMask Mobile, allowing users to fund and manage their MetaMask Card directly. MetaMask called mUSD a step toward bridging traditional finance with decentralized ecosystems.
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