Assets · Stablecoin · issued by Bridge
MetaMask USD (mUSD) (mUSD)New
US dollar stablecoin issued by Bridge for the MetaMask wallet, where it is the base token of the MetaMask Money Account and can be bought, swapped, sent and spent with the MetaMask Card; minted on M0's infrastructure and backed by dollar reserves. Technically an M0 extension: each mUSD is a 1:1 wrapper over M0's $M token, which Bridge mints against its own Treasury collateral; only Bridge can wrap $M into mUSD.
- Value per token
- $1
Issued through MetaMask USD (mUSD) stablecoin Live (limited)
Classification · medium confidence
- Legal form
- Stablecoin from economic tests
- Underlying
- Government debt · Government debt, Money
- Value behaviour
- Stable value · no income
- Ledger role
- Native
Primary by the cash residual exception: components are only money and US Treasury instruments (T-bills, Treasury repo, government MMFs) from a Treasury reserve: Bridge says its coins are backed 1:1 by a mixture of short-term Treasuries and cash deposits; no per-coin split published.
Sourced[1]. How assets are classified: methodology.
Contracts
Addresses as published by the issuer. Check them on the explorer before relying on them. Supply per network comes from the issuing deployment's on-chain figures.
| Network | Address | Standard | Supply here | Source |
|---|---|---|---|---|
| Monad | 0xacA92E…2435DA ↗ | ERC-20 | ~$19.6m | [1] |
| Ethereum | 0xacA92E…2435DA ↗ | ERC-20 | ~$11.4m | [1] |
| Linea | 0xacA92E…2435DA ↗ | ERC-20 | ~$5.78m | [1] |
| BNB Chain | 0xaca92e…2435da ↗ | BEP-20 | ~$45,995 | [1] |
Sources
- [1]Open Issuance Transparency | Bridge — Bridge. Accessed 22 Oct 2026. Issuer's transparency page for every Open Issuance stablecoin: description, website, contract addresses per chain, circulating supply and reserves (read from the page data on 22 Oct 2026)..B
- [2]MetaMask USD (mUSD) | Bridge — Bridge. Accessed 28 Oct 2026. Issuer's per-coin transparency page, updated 28 Oct 2026 13:10 UTC: 35,264,302 mUSD in circulation, reserve assets $35,310,553 (100.13%), of which cash $446 and Treasuries $35,310,107 (100.0%); Treasuries include money market funds holding T-bill ladders of under three months. No fund or token named..B
- [3]Design templates | M0 docs — M0. Accessed 28 Oct 2026. Describes the MYieldToOne extension model (ERC-20 backed 1:1 by eligible collateral, rewards to one treasury wallet), the model used for mUSD..B
- [4]M token | M0 docs — M0. Accessed 28 Oct 2026. $M is the base token under every M0 extension; each unit is backed 1:1 by approved collateral; minters mint and burn it through the MinterGateway..B
- [5]ARFC: Add MetaMask USD (mUSD) to Aave V3 Core instance on Ethereum and Linea (LlamaRisk asset review, post 2) — LlamaRisk (Aave governance forum), 18 Sep 2025. Accessed 28 Oct 2026. Risk provider's review: mUSD wraps $M 1:1 via M0's SwapFacility, swaps into mUSD restricted to Bridge; citing M0 data of 16-17 Sep 2025, mUSD's collateral was 100% Treasury bills held by Bridge, while Superstate USTB made up about 20% of all $M collateral (across minters: Bridge and Minter One Generator SPV / Mxon). USTB is on M0's eligible-collateral list..C