MetaMask announces stablecoin, MetaMask USD

MetaMask announced MetaMask USD ($mUSD), its native stablecoin, which it says is the first stablecoin launched by a self-custodial wallet. Bridge, a Stripe company, issues the coin and M0 powers its onchain infrastructure, with launch initially on Ethereum and Linea. The coin will be usable in-wallet at launch for onramps, swaps, transfers and bridging, and is expected to be spendable via the MetaMask Card at Mastercard merchants by the end of the year. The announcement says it is fully backed 1:1 by high-quality, highly liquid dollar-equivalent assets.