MetaMask’s new stablecoin, mUSD, which is designed to serve as a wallet-native asset, went live on September 15, 2025. The stablecoin aims to simplify crypto for users, from onramping and holding to earning and spending, all within the MetaMask platform. mUSD, which is powered by Transak, is currently available to users in the United States and the European Union.
The contract address for mUSD is 0xaca92e438df0b2401ff60da7e4337b687a2435da, also available on MetaMask’s website.
The new stablecoin is intended to act as a bridge between traditional finance and decentralized finance (DeFi) ecosystems, underpinning various DeFi activities such as trading, lending, and remittances. It is available at a 1:1 rate with USDC and USDT and offers native support across
MetaMask Swap and Bridge transactions. Users can also spend mUSD with the MetaMask Card at over 150 million merchants globally. Additional benefits include strong liquidity on LineaBuild and low-cost fiat onramps.
As of the current data, mUSD has a market cap of $18.01 million and a circulating supply of $18.04 million, with a 24-hour volume of $20.34 million. The price has been within a 24-hour range of $0.99 to $1.01. The launch also coincides with new functionality allowing users to manage and fund their MetaMask Card directly within the MetaMask Mobile app.
MetaMask announced the launch on August 21, 2025. This marks the first time a self-custodial wallet has introduced it. It is designed to be deeply integrated into the MetaMask ecosystem to simplify the user experience for holding, spending, and transacting in Web3. Metamask thanked M0, Stablecoin and Transak on X for “helping bring this all to life.”
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