MetaMask wants its own stablecoin. It’s calling it MetaMask USD (mmUSD). And if the recent governance proposal goes through, it’s building it with Stripe.

The proposal, not yet confirmed by either side, hints at a big shift. A stablecoin native to the MetaMask ecosystem. Pegged 1:1 to the US dollar. Backed by Stripe’s global payment rails. And deeply embedded into the MetaMask wallet.

That means no more bouncing between tokens. No more third-party swaps. Just one simple, stable medium of exchange across MetaMask’s dApps, swaps, and bridges.

MetaMask is already the most widely used Web3 wallet in the game, with over 30 million monthly active users. Now it wants to go beyond just holding tokens. It wants to issue one. And it wants to make stablecoin payments as easy as using a debit card.

The mmUSD token would be launched via the M^0 protocol, an off-chain network designed for scalable and secure issuance. Think fast mints. Cheap redemptions. Near-zero wait times. And liquidity that flows.

The Goal? Bring TradFi-grade Efficiency Into DeFi Tools

Stripe steps in as the muscle behind the money pipes. Known for handling over $1 trillion in global payments annually, Stripe makes fiat on- and off-ramps easy. It connects mmUSD to bank accounts and credit cards. It lets users cash in and out in seconds.

Stripe’s rails mean someone in Nigeria can fund their MetaMask wallet with naira, swap into mmUSD, and pay for a service in Tokyo, all without touching a centralized exchange. Clean. Fast. Borderless.

MetaMask’s governance proposal highlights a few core benefits:

• Stability. mmUSD stays at $1.00. No price swings. No guessing.
• Liquidity. It integrates across MetaMask’s tools. Shows up in swaps. Lives in dApps. Powers staking.
• Speed. Off-chain M^0 tech keeps things snappy.
• Access. Stripe plugs mmUSD into banks and cards.

At the time of writing, mmUSD is still just a proposal. No launch date. No code, even No testnet. But early community response has been loud. The announcement post on X sparked discussions on MetaMask’s long-term plans. Some bullish. Some skeptical. All watching.

If mmUSD does launch, it enters a crowded but lucrative field. As of now:

• USDT leads the pack with a $112B market cap.
• USDC trails behind at $32B.
• DAI sits around $5.3B. (Data via CoinMarketCap

mmUSD doesn’t need to dethrone them. It just needs to live where users already are, inside MetaMask. That’s its edge. It won’t compete for attention. It will just be… there.

And if it’s cheaper to use, easier to access, and more deeply connected to fiat rails via Stripe, that might be enough.

MmUSD Set For Massive Move

The proposal also suggests mmUSD could become a gas token within MetaMask’s ecosystem. It could power microtransactions in games. Tip creators. Handle payroll. Anchor liquidity pools. Possibly even fund NFT sales without relying on volatile ETH. But risk lingers.

Stablecoins walk a fine line. They need backing. They need transparency and they need regulatory clarity. One broken peg can shake the whole system. MetaMask and Stripe will need audits, clear reserve management, and bulletproof governance to make this fly.

Still, the direction is clear. MetaMask wants control of the rails — not just a seat on the train.

With Stripe in the picture, it’s not just a crypto experiment. It’s a potential play for mainstream adoption.

A dollar you can send in seconds. Globally. Natively. From the world’s most used crypto wallet. That’s what mmUSD promises. Now the question is: who presses “deploy” first?

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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