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Deployments · Open Issuance · platform by Bridge

MetaMask USD (mUSD) stablecoinNew

A US dollar stablecoin for the MetaMask wallet, developed by Consensys, issued by Bridge (Stripe's stablecoin company) and minted on M0's infrastructure. It is the base balance of the MetaMask Money Account, used to buy, swap, send and spend through the MetaMask Card, and is backed one to one by dollar reserves. Announced in August 2025 as the first stablecoin launched by a self-custodial wallet, it went live in September 2025 on Ethereum and Linea and has since added Monad and BNB Chain. About $32 million was in circulation in October 2026.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 15 Sep 2025[5][1] — Distributed through one wallet; about $32m in circulation. · Reviewed 11d ago

Assets
Stablecoin[2]
US dollar stablecoin backed by dollar reserves
Networks
Ethereum Public, permissionless[2][4][1]
Linea Public, permissionless[2][4][1]
Monad Public, permissionless[2][1]
BNB Chain Public, permissionless[2]
Contract listed by Bridge; no supply in DefiLlama's data.
Use cases
Primary issuance[1][2]Payments[2][4]
Jurisdictions
United States

Participants

Likely relevant regulation

Assets

Metrics

  • ~$31.79mTokens in circulation · as of 22 Oct 2026[1][2]
    On-chain via DefiLlama; sum of its per-chain balances. Bridge's page gave 31,838,658 the same day.
  • ~$35.31mReserve assets · as of 28 Oct 2026context[6]
    Bridge's per-coin reserve figure (100.13% of 35,264,302 mUSD): Treasuries including money market funds $35,310,107, cash $446. Context: a reserve, not a token balance.
  • ~$16.64mTokens in circulation · as of 22 Oct 2026 · on Monad[1]
    On-chain via DefiLlama.
  • ~$9.37mTokens in circulation · as of 22 Oct 2026 · on Ethereum[1]
    On-chain via DefiLlama.
  • ~$5.78mTokens in circulation · as of 22 Oct 2026 · on Linea[1]
    On-chain via DefiLlama.
  • ~$36.54mSupply on chain (daily) · as of 7 Nov 2026[7]
    Automated daily reading of on-chain supply across all chains.
  • ~$45,995Supply on chain (daily) · as of 7 Nov 2026 · on BNB Chain[7]
    Automated daily reading.
  • ~$11.4mSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum[7]
    Automated daily reading.
  • ~$19.6mSupply on chain (daily) · as of 7 Nov 2026 · on Monad[7]
    Automated daily reading.

Timeline

  1. Happened 15 Sep 2025 · Launch · recorded 22 Oct 2026
    mUSD goes live, with about $18 million in circulation on its first day.[5]
  2. Happened 21 Aug 2025 · Announcement · recorded 22 Oct 2026
    MetaMask announces mUSD, its own stablecoin, issued by Bridge and powered by M0, to launch first on Ethereum and Linea.[4]

Sources

  1. [1]MetaMask USD stablecoin data (API) — DefiLlama, 22 Oct 2026. Accessed 22 Oct 2026.A
  2. [2]Open Issuance Transparency | Bridge — Bridge. Accessed 22 Oct 2026. Issuer's transparency page for Open Issuance stablecoins: contracts per chain, circulating supply and reserves, read 22 Oct 2026..B
  3. [3]Introducing Open Issuance from Bridge: A new platform to launch your own stablecoin — Stripe, 30 Sep 2025. Accessed 18 Oct 2026.B
  4. [4]MetaMask Becomes First Self-Custodial Wallet to Introduce Its Native Stablecoin, in Partnership with Bridge and M0 — M0, 21 Aug 2025. Accessed 22 Oct 2026.B
  5. [5]MetaMask's mUSD stablecoin goes live as number of dollar-pegged tokens grows — The Block, 15 Sep 2025. Accessed 22 Oct 2026.C
  6. [6]MetaMask USD (mUSD) | Bridge — Bridge. Accessed 28 Oct 2026. Issuer's per-coin transparency page, updated 28 Oct 2026 13:10 UTC: supply 35,264,302 mUSD; reserves $35,310,553 (cash $446, Treasuries $35,310,107, the latter including money market funds of T-bill ladders under three months)..B
  7. [7]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A

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