Categories: Crypto

MetaMask readies mUSD stablecoin for late August launch: CoinDesk

Key Takeaways

MetaMask plans to launch its own stablecoin, dubbed mUSD, by month-end in partnership with Stripe’s Bridge, M^0, and Blackstone.
Regulatory clarity from the GENIUS Act has triggered a wave of corporate stablecoin initiatives, including MetaMask’s mUSD.

MetaMask, the Ethereum-based wallet with over 30 million monthly active users, is preparing to launch its own US dollar-pegged stablecoin, mUSD, according to a CoinDesk report.

The report indicates that MetaMask is likely to announce its new stablecoin later this week, with plans for the token to go live by the end of the month. The initiative follows a prematurely posted governance proposal last week that revealed details of the project before it was deleted.

MetaMask is developing mUSD with the help of Bridge, a stablecoin payments infrastructure firm acquired by Stripe earlier this year, and issuance protocol M^0. Blackstone will provide custody and treasury management services for the token, according to the source.

The launch comes amid a major shift in US regulation after the July passage of the GENIUS Act, which created the first federal framework for stablecoins. The law requires 1:1 reserves in high-quality liquid assets like US Treasuries, monthly public reserve attestations, and full AML/KYC compliance.