Cryptocurrency wallet MetaMask has launched MetaMask USD (mUSD), a native stablecoin integrated into the app.

The new asset operates on the Ethereum and Linea networks, with Bridge acting as the issuer. The technical infrastructure is based on the M0 protocol. According to the developers, each mUSD is backed by the equivalent in US dollars — in the form of short-term treasury bonds.

According to information from the company’s website, at the time of writing, the capitalization of mUSD is about $24 million.

The team also talked about the main features of MetaMask USD, namely:

• support for services to buy cryptocurrencies from fiat at minimal commissions;
• direct use of Swap and Bridge in MetaMask;
• integration with DeFi, DEX, credit markets and custodial platforms;
• possibility of settlements in more than 150 million points of sale via MetaMask Card.

Note, MetaMask is positioning mUSD as the first stablecoin created by a self-custodial wallet. The company believes that the asset will simplify interaction with Web3 – from depositing funds to spending and earning them within the MetaMask ecosystem.