14.08.2025 02:23
MetaMask, the popular Ethereum wallet provider, is poised to launch its own stablecoin, according to a source familiar with the project. This development follows a now-deleted governance proposal hinting at a collaboration with Stripe, a prominent payment processing company. The planned stablecoin, tentatively named mmUSD, is expected to be the primary trading pair for various MetaMask services.
The initiative, reportedly supported by stablecoin platform M^0, suggests a significant push by MetaMask into the burgeoning stablecoin market. This move arrives amidst a period of increased interest in stablecoins, fueled by a more receptive U.S. regulatory landscape, growing acceptance within traditional finance, and the highly successful initial public offering of Circle, a major stablecoin issuer.
Adding further weight to this trend, the recent passage of the GENIUS Act by Congress provides crucial regulatory clarity for dollar-pegged stablecoins. This legislative action, along with the increasing involvement of major financial institutions like JP Morgan Chase, Bank of America, and Robinhood in stablecoin projects, signals a broader industry shift. Standard Chartered, a UK bank, projects a substantial increase in the stablecoin market capitalization, estimating a growth from the current $280 billion to a remarkable $750 billion by 2026.
While Consensys, the Ethereum software developer behind MetaMask, declined to comment directly on the specific plans, the deleted governance proposal and other sources suggest a potential launch as early as Thursday. This upcoming release underscores the growing importance and potential of stablecoins within the broader cryptocurrency ecosystem and its integration with traditional financial systems.