• The Web3 wallet announced the launch of mUSD on September 15 via X, marking the first time a self-hosted wallet has issued its own stablecoin.

  • The contract address for the token, deployed on Ethereum and Linea, is 0xaca92e438df0b2401ff60da7e4337b687a2435da. It is designed to maintain a 1:1 peg with the U.S. dollar.

  • According to CoinGecko, mUSD is already listed with a market capitalization of around $24 million. For comparison, the largest stablecoin, Tether (USDT), holds a market cap of roughly $170 billion.

  • MetaMask explained that mUSD can be used for fiat-to-crypto onramps, swaps, trading, and DeFi services. It can also be spent globally through the MetaMask card at Mastercard merchants.

  • Stablecoins like mUSD allow users to hedge against volatility without converting into traditional fiat currencies, offering flexibility in turbulent market conditions.