MetaMask Announces Plans to Issue New Stablecoin 'mmUSD'

On August 5, leading cryptocurrency wallet MetaMask announced plans to issue its own stablecoin, 'MetaMask USD (mmUSD),' in partnership with U.S. payment giant Stripe. On the same day, a proposal was submitted for the integration of token logic into the Aave v3 core protocol on both Ethereum and Linear networks.

mmUSD will be issued by Stripe and will utilize the M^0 Network for on-chain issuance and settlements. It is positioned as a pivotal asset within the MetaMask ecosystem, with plans for integration into wallet, swap, trading, and operational functionalities.

The M^0 Network is a decentralized...