MetaMask Explores Stablecoin Launch in Partnership With Stripe

MetaMask is reportedly developing a native stablecoin, 'MetaMask USD' (mmUSD), in collaboration with Stripe. A governance proposal within its ecosystem outlines the project, which WOULD integrate mmUSD as a core feature of the wallet's services. Stripe would issue the stablecoin, while the M^0 network would manage decentralized issuance and settlement.

The initiative aims to create a stable, liquid currency for seamless use across MetaMask's platform, from token swaps to payments. Though still in early stages, the proposal signals MetaMask's strategic direction amid booming demand for dollar-pegged stablecoins, now a $250 billion market.

Federal Reserve Governor Christopher Waller recently noted stablecoins may reinforce global dollar dominance rather than undermine it. The mmUSD plans follow MetaMask's recent crypto-linked debit card launch, underscoring the wallet's push into broader financial services.