MetaMask uses M0’s stablecoin platform to build MetaMask USD
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- Explain what MetaMask is for those who might not know? What are its core mission and values?
MetaMask is the world's leading self-custodial crypto wallet, trusted by millions of users globally. Built by Consensys, founded by Ethereum co-founder Joseph Lubin, MetaMask is the primary gateway to Web3, enabling users to securely manage crypto assets and interact with decentralized applications across both EVM and non-EVM networks like Bitcoin and Solana. Our core values center on self-custody, security, and trust: protecting users and enabling true ownership of their assets.
- What inspired MetaMask to build MetaMask USD and enter the stablecoin space? What was the opportunity here?
There are billions of dollars in stablecoins sitting idle across MetaMask wallets, not earning yield, not easily spendable, just parked. We saw a huge opportunity to change that. The vision behind mUSD is to create a seamless money experience where holding "cash" on-chain automatically gives users the best of Web3 and traditional finance without needing to navigate dApps, sign complex transactions, or piece together fragmented tools. mUSD is the foundation of that experience: a wallet-native stablecoin that users can on-ramp into, earn on, spend, trade, and move between fiat and crypto. All from within the wallet they already trust. We’re turning idle assets into working money.
- What were the main issues you faced when considering building a stablecoin?
Three challenges stood out.
- Modularity: We needed to own the user experience without building every layer of the stack ourselves. Distribution, issuance, interoperability, and compliance are each deep specializations. Trying to control everything wasn’t the right approach; we needed to partner strategically.
- Issuer flexibility: MetaMask serves a global user base across diverse regulatory environments, so locking into a single issuer would limit our ability to expand. We needed the option to work with multiple issuers and adapt over time.
- Speed: The opportunity was clear and the market was moving fast. Traditionally, launching a stablecoin takes over a year. We needed a path measured in weeks, not years.
- What benefits has MetaMask experienced by working with M0?
The M0 team stood out for being hands-on and acting as an extension of our business. M0's on-chain protocol means the infrastructure powering mUSD (minting, burning, yield distribution) operates with full transparency, which aligns with our core ethos of openness and self-custody. The multi-issuer architecture gives us the flexibility to start with Bridge (a Stripe company) while retaining the option to add issuers as we expand. The shared liquidity layer ensures mUSD is interoperable across DeFi from day one. And critically, M0 compressed what would have been a year-plus build into weeks, letting us go from concept to a live, fully-backed stablecoin in record time.
- What are the plans for MetaMask USD in terms of use cases and applications?
We see mUSD becoming a foundational layer in MetaMask's evolution toward a new generation of money management. Our ambition is to make holding and using digital dollars feel intuitive, natural, and empowering — enabling you to earn effortlessly, trade seamlessly, and spend globally. Over time, mUSD will sit at the center of a more connected experience, making it easier to manage, earn, spend, and move between crypto and everyday life.
About Consensys
Consensys is the leading Ethereum software company, building the infrastructure, tools, and protocols that power the world’s largest decentralized ecosystem. Founded in 2014 by Ethereum co-founder Joseph Lubin, Consensys has played a foundational role in Ethereum’s growth, from pioneering products like MetaMask, Linea and Infura to shaping protocol development and staking infrastructure. Today, Consensys continues to lead Ethereum’s evolution through strategic R&D, and direct contributions to network upgrades like the Merge and Pectra. With a global product suite, and deep roots across the ecosystem, Consensys is uniquely positioned to accelerate Ethereum’s role as the trust layer for a new global economy, one that is decentralized, programmable, and open to all. To learn more, visit consensys.io.
About M0
M0 is shared infrastructure, bringing stablecoin builders and issuers together. With M0, developers can build safe, programmable and interoperable digital dollars.