Crypto-wallet provider MetaMask said it will introduce a dollar-pegged stablecoin, MetaMask USD (mUSD), later this year. The token will launch first on the Ethereum blockchain and Linea—Consensys’ layer-2 network—and will be issued by Bridge, a platform recently acquired by Stripe. Minting will rely on the decentralized liquidity infrastructure of M0. MetaMask said mUSD will be fully backed one-for-one by cash and short-term U.S. Treasuries and integrated throughout the company’s self-custodial wallet, which it claims serves about 30 million monthly users. Holders will be able to swap, transfer and bridge the token inside the app, while a forthcoming MetaMask debit card on the Mastercard network will allow spending at traditional merchants. The move makes MetaMask the first self-custodial wallet to roll out its own stablecoin, highlighting a push by wallet providers to capture a share of the roughly $285 billion market. Executives said the initiative was enabled by clearer U.S. rules under the recently enacted GENIUS Act, which governs fully reserved payment tokens and is expected to accelerate stablecoin adoption.