MetaMask Joins Stablecoin Race With Launch Of mUSD

MetaMask USD will initially launch on Ethereum and Linea, Consensys’ fully EVM-equivalent Layer 2 network. The company said more technical details and user guides will be released in the coming weeks. 

The launch comes as stablecoins hit nearly $1 trillion in monthly on-chain volume, following the U.S. GENIUS Act, the first federal framework for payment stablecoins. With regulatory clarity improving, MetaMask said it sees mUSD as a way to deepen liquidity, expand protocol utility, and lower onboarding friction for its 100 million-plus users.

The new token enters a market dominated by Tether’s USDT and Circle’s USD Coin (USDC). On Stocktwits, retail sentiment around USDT was in ‘neutral’ territory, while retail sentiment around USDC trended in the ‘bearish’ zone.

To compete, MetaMask plans to integrate mUSD across Linea’s DeFi stack, including lending markets, decentralized exchanges, and custodial platforms. The company said the stablecoin will also enable basic functions like on-ramping, holding, swapping, transferring, and bridging within its wallet. Spending through the MetaMask Card at Mastercard-accepting merchants is also expected by year-end. 

“By integrating [mUSD] natively into MetaMask’s product offering, it will allow us to cut through some of the most stubborn barriers in web3 and reduce both friction and costs for people onboarding directly into a self-custodial wallet,” said Gal Eldar, Product Lead at MetaMask.

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