MetaMask is reportedly planning to launch its own stablecoin, “MetaMask USD” (mmUSD), in partnership with Stripe. A governance proposal shared within its ecosystem reveals the project, which would make mmUSD a native part of MetaMask’s wallet services.
According to the proposal, Stripe will issue the stablecoin, while the M^0 network will handle the decentralized issuance and settlement. The project’s still in its early days, with no confirmed launch date yet. But from the way it’s being framed, it looks like a big part of where MetaMask is headed.
The idea is simple: create a stable, liquid currency that works seamlessly across all of MetaMask’s features, whether it’s swapping tokens or making payments. If it gains traction, mmUSD could become the default currency for millions of users.
There’s no official statement yet from MetaMask or Stripe, but the proposal clearly shows how fast the stablecoin space is moving. With over $250 billion in stablecoins currently in circulation, up from just single-digit billions in 2020, the asset class has become one of crypto’s strongest pillars.
Nearly 99% of these are dollar-pegged, a dynamic even acknowledged by Federal Reserve Governor Christopher Waller, who noted that stablecoins may help extend global dollar influence rather than reduce it.
The mmUSD news also follows MetaMask’s recent rollout of a crypto-linked debit card, built in partnership with Mastercard and Baanx. The card allows users to spend crypto directly from their MetaMask wallet, without requiring bank involvement or manual top-ups.
Speaking about the card rollout, Baanx CCO Simon Jones said the aim was to create a “non-custodial neobanking” experience that combines blockchain principles with everyday payments.
If mmUSD moves forward, it would mark a major step in MetaMask’s effort to become more than just a Web3 wallet, evolving into a full-scale financial interface for crypto users around the world.
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