- mUSD will launch in 2025 on Ethereum and Linea, natively integrated into MetaMask
- Issued and custodied by Bridge (a Stripe subsidiary) and powered by M0 for cross-chain liquidity
- Backed 1:1 by cash and short-duration Treasuries with real-time transparency and monthly attestations
- Planned features include on/off-ramps, swaps, bridging and Mastercard-enabled spending
Built for broad usability across decentralized applications, mUSD will be issued by Bridge — a Stripe-owned stablecoin platform — and powered by M0’s liquidity infrastructure. MetaMask says the asset will be fully backed by cash and short-duration U.S. Treasuries, with real-time visibility and monthly public attestations of reserves to reinforce trust.
How issuance, reserves and compliance are structured
Bridge will handle issuance and custody of mUSD while M0 provides the protocol-layer rails that enable composable, cross-chain liquidity. According to the companies, the reserve model targets high-quality, highly liquid dollar-equivalent assets, pairing immediate transparency with periodic third-party attestations.
Regulatory alignment is another core pillar. mUSD is being structured to comply with the recently enacted U.S. GENIUS Act, signed into law on July 18, 2025, which sets standards for issuers, reserve composition and disclosures. Under that framework, stablecoin issuers cannot pay yield directly on customer balances; MetaMask executives have indicated mUSD will not offer yield at launch, though incentive programs within the broader ecosystem could emerge later.
Bridge’s team says custom digital dollars no longer require a year of plumbing and partner integrations. Development timelines have compressed to weeks, enabling applications and wallets to bring branded tokens to market faster while outsourcing regulatory, reserve and infrastructure complexity to specialists.
What mUSD does inside MetaMask
Because it’s wallet-native, mUSD will be woven into core MetaMask features such as on- and off-ramps, token swaps and bridging. The integration is intended to reduce friction for users who routinely on-ramp, hold, trade, lend and spend value — all without leaving the MetaMask experience.
At launch, mUSD will be available on Ethereum and Linea, with MetaMask positioning the stablecoin as a connective liquidity layer across Web3. Executives say tighter coupling with the wallet could deliver lower costs, greater composability and smoother transaction flows than relying on external stablecoins alone.
Spending utility is also on the roadmap. MetaMask plans to enable mUSD as a payment option for the physical MetaMask Card, powered by Mastercard, giving users a route to spend balances at supported merchants once the program goes live later in 2025.
Launch timing, roadmap and ecosystem impact
The initial rollout is targeted for later in 2025, beginning with Ethereum mainnet and Linea. MetaMask says mUSD is expected to play a prominent role in Linea’s DeFi economy, with integrations across lending markets, decentralized exchanges and custodial services to deepen liquidity and broaden utility.
Over time, cross-chain compatibility via M0’s liquidity network is expected to expand mUSD’s reach to additional ecosystems. For MetaMask’s tens of millions of monthly active users, the goal is a more direct path to bring funds on-chain, deploy them in DeFi, and spend them — all from the same wallet.
Transparency, risk management and what to expect on yield
Reserves will consist of cash and short-duration Treasuries held against circulating supply, with real-time views and monthly attestations designed to reassure users and institutional partners. That combination of disclosure and asset quality aims to address common concerns around stablecoin transparency and liquidity.
On returns, mUSD will not pay yield directly to users at launch in line with the GENIUS Act’s restrictions on issuers. Users may still find opportunities through third-party DeFi protocols, but any such rewards would be outside the issuer’s purview and subject to the risks and terms of those platforms.
Why a wallet-native stablecoin now?
Stablecoins have become a major on-chain payment and settlement rail, and fresh regulatory clarity in the U.S. has accelerated institutional interest. Within that environment, application-specific stablecoins are gaining traction as wallets and apps seek tighter control of user experience while delegating regulatory and reserve operations to dedicated issuers.
For MetaMask, owning the stablecoin experience inside the wallet could streamline onboarding, reduce transaction friction, and consolidate liquidity. The company’s leadership believes these advantages will help mUSD compete in a crowded market while serving as a backbone for payments and DeFi on Linea and beyond.
The plan outlines a conservative reserve model, embedded wallet utility, and a compliance-first approach under the GENIUS Act, with a launch later in 2025 on Ethereum and Linea, spending functionality via the MetaMask Card, and a roadmap that emphasizes liquidity, transparency and seamless cross-chain use.
