MetaMask has officially announced the launch of a native stablecoin called mUSD. The issuance and further management of this asset are organized through the Bridge platform, acquired by Consensys in February, as well as with the participation of the decentralized M0 system. According to the developers, the stability of mUSD is ensured by reserves in US Treasury bonds.
The new token is built into the MetaMask Swap and Bridge services, allowing users to make cross-border transfers between different blockchains. In addition, mUSD can be used to pay for goods and services via MetaMask Card. Thus, the stablecoin has become a full-fledged part of the wallet infrastructure.
The developers emphasize that when creating mUSD, new American requirements for regulating stablecoins were taken into account. This case became a precedent: for the first time, a non-custodial wallet presented its own stablecoin integrated into key products.
The company has not yet disclosed either the initial emission volume or the target emission indicators. However, early statements by MetaMask USD team members suggest that the emission volume will be determined by the level of demand from users and the volume of fiat receipts through on-ramps, such as Transak.
The interest in the release of MetaMask's own stablecoin was not unexpected. Earlier, the project's co-founder Dan Finley said in an interview with The Block podcast that the team is actively working on the implementation of this idea. The launch of mUSD was a logical continuation of the company's strategy to expand the functionality of the wallet and increase the independence of the ecosystem.
In essence, MetaMask seeks to strengthen its position in the market due to its own payment unit, which can become a universal tool for exchange, transfers and purchases. Given the integration with key wallet services and the provision of liquidity with government bonds, mUSD can be widely distributed among users who prefer decentralized solutions.
Thus, MetaMask not only expands the boundaries of its functionality, but also creates the basis for a new level of user interaction with the cryptocurrency ecosystem, in which the stablecoin becomes not just an additional tool, but a central element of the infrastructure.