MetaMask is preparing to launch a dollar-pegged stablecoin called mmUSD in partnership with Stripe. The move came to light after a governance proposal surfaced in Aave’s community channels. The post, later removed, described mmUSD as the foundation of MetaMask’s ecosystem.
M^0, a stablecoin platform, is also supporting the project. The leak outlined plans for mmUSD to serve as the main trading pair across MetaMask’s services. These include wallet functions, swaps, buying and selling, and yield-earning features.
The early disclosure caught attention because MetaMask and Aave recently announced a partnership to let wallet users earn yield through Aave’s stablecoin lending pools inside the MetaMask app. MetaMask operates under Consensys, a blockchain development company.
Industry leaders see rapid Stablecoin expansion
Stripe’s role signals a growing trend of fintech firms embracing stablecoins. Stripe has already made significant moves in the space, including acquiring Bridge, a stablecoin project, for over $1 billion in 2024. The coin market has grown to a collective $268 billion, according to DefiLlama data.
Analysts expect this figure to rise sharply. Citigroup predicts the sector could reach $3.7 trillion in five years. Industry leaders also see a potential jump to $2.5 trillion within a shorter timeframe. These coins have attracted attention for their ability to offer fast transfers and near-instant settlements.
This appeal has drawn in major players such as PayPal, which launched a $962 million stablecoin, and Robinhood, which has been exploring its own product. UK-based Revolut is also reportedly developing a stablecoin, adding to the competitive landscape. Recent developments in the United States have provided a clearer regulatory path.
Stablecoin framework Fuels market optimism
New legislation passed in July outlines how banks and other firms can legally issue stablecoins. This framework has fueled investor confidence, as seen in Circle’s public debut. The company, the second-largest stablecoin issuer, saw its shares surge 186% in a single day after listing.
MetaMask’s upcoming mmUSD could strengthen its position as a core player in decentralized finance. By integrating a native, liquid stablecoin into its services, it could simplify transactions, expand yield opportunities, and create a more seamless user experience. Stripe’s involvement adds payment infrastructure expertise, while M^0 brings stablecoin-specific support.
The leak may have been premature, but the market’s reaction shows how closely industry watchers follow developments in these coins innovation. If projections hold, mmUSD’s launch could be one step in a race toward a multi-trillion-dollar sector that is reshaping digital finance.
