MetaMask may announce its own USD stablecoin mUSD this week

According to a report by Jinse Finance, sources reveal that MetaMask, the well-known Ethereum ecosystem crypto wallet, plans to announce details of its US dollar-pegged stablecoin mUSD as early as this week, with an official launch expected by the end of the month. The issuance of mUSD will be supported by Bridge, a payment stablecoin service provider acquired by fintech giant Stripe earlier this year, and the stablecoin issuance protocol M^0. Additionally, alternative asset management firm Blackstone has been invited to provide custody and fund management services. With over 30 million monthly active users, MetaMask aims to issue the stablecoin to share yields from highly liquid assets such as short-term US Treasury bonds.