MetaMask has launched MetaMask USD (mUSD), a U.S. dollar–backed stablecoin aimed at deepening liquidity across its wallet and payments ecosystem.
The new token is initially issued on Ethereum and on the EVM Layer 2 Linea, positioning mUSD for lower-cost transactions and wider DeFi utility.
mUSD integrates with MetaMask’s suite of services and is spendable via the MetaMask Card. The development team is highlighting Linea-based incentives to encourage early adoption and is providing users with low-cost fiat on-ramps inside MetaMask, simplifying the path between bank money and crypto assets.
“The stablecoin will also provide users with low-cost fiat on-ramps inside MetaMask, simplifying the path between bank money and crypto assets.”
Development collaborators on the project include the M0 Protocol and Bridge.xyz, which helped build the minting and bridging infrastructure.
- Supported chains: Ethereum and Linea (EVM Layer 2)
- Spendability: MetaMask Card and wallet-integrated flows
- Infrastructure partners: M0 Protocol, Bridge.xyz
- Linea incentives: Early-adoption rewards to reduce friction and costs
Market data published by MetaMask shows mUSD had a market capitalization of roughly $20.3 million and a total traded volume near $32.35 million at the time of this writing.
The project’s growth prospects are supported by MetaMask’s large user base and a regulatory backdrop the team says is increasingly favorable. The launch follows recent U.S. legislative action under the GENIUS Act to regulate stablecoins and comes after the platform benefited from charges dropped by the Securities and Exchange Commission.
From a market-utility perspective, mUSD is timed to improve on-chain liquidity for trading and DeFi use cases. Analysts tracking market cycles point to an altcoin season index north of 70, a reading associated with strong altcoin performance, which could amplify demand for a native, wallet-integrated stablecoin.
Native fiat rails and lower-cost settlement on Linea may also reduce friction for traders and decentralized applications that require reliable dollar liquidity.
The debut of mUSD marks a strategic move by one of the most widely used Ethereum wallets to internalize dollar liquidity and streamline payments. If adoption scales as projected, mUSD could become a core liquidity instrument across MetaMask’s wallet, card, and Layer 2–native DeFi flows, influencing trading behavior across the broader crypto ecosystem.
