MetaMask USD 

MUSD Price

What is the MetaMask USD (mUSD) stablecoin?

MetaMask USD (mUSD) is a fiat-backed stablecoin pegged 1:1 to the US dollar, issued natively inside the MetaMask wallet. MetaMask (Consensys) announced the token on August 21, 2025; it went live September 15, 2025. Bridge, a Stripe company, handles regulated issuance and redemption, and M0's stablecoin orchestration protocol powers the on-chain layer. mUSD functions as the default dollar balance inside MetaMask for trading, payments, and spending through the MetaMask Card.

Are mUSD reserves backed by US dollars?

Yes. mUSD is backed by reserves that MetaMask and M0 documentation describe as high-quality, cash-equivalent dollar assets. Holders redeem mUSD 1:1 for US dollars through Bridge, the regulated issuer of the token. The same documentation states reserves undergo monthly third-party attestations. The redemption guarantee rests entirely on Bridge's rails, so backing quality depends on a single centralized issuer structure rather than on decentralized collateral.

How does mUSD maintain its peg to the US dollar?

mUSD holds its $1 peg through a mint-and-redeem mechanism operated by Bridge. Users mint new mUSD by depositing dollars and burn tokens on redemption at 1:1. This elastic supply keeps tokens createable and redeemable at par, which anchors the market price near $1. mUSD has no fixed maximum supply — units exist only when minted against deposits.

What is mUSD's circulating supply?

mUSD has no fixed maximum supply. Supply is elastic: it expands when users mint through Bridge and M0 and contracts when tokens are redeemed. Per DropsTab data, more than $15 million in mUSD was in circulation as of September 2026 — a mint-on-demand figure that moves with adoption rather than following an emission schedule. mUSD also has no allocation tiers, treasury, or unlock calendar.

Is mUSD safe and regulated?

mUSD's regulatory posture depends on its issuer. Bridge, a Stripe company, handles regulated issuance and redemption of mUSD, placing the token under a licensed structure. Two risk factors remain: the mUSD contract is an upgradeable proxy, and issuance is concentrated in the single Bridge/Stripe structure. Holders therefore carry issuer, counterparty, and regulatory exposure typical of centrally issued stablecoins.

How do I buy or swap mUSD in MetaMask?

mUSD is available primarily inside MetaMask rather than through exchange order books. Wallet users mint mUSD with fiat via Transak on-ramps, or swap into it from USDC, DAI, aUSDC, and aDAI — conversions between these stablecoins carry no MetaMask fee. mUSD also spends through the MetaMask Card. MetaMask positions mUSD as its default dollar balance for trading, payments, and spending.

Can I trade mUSD on centralized exchanges?

No confirmed centralized exchange listings exist for mUSD. Distribution is wallet-first and on-chain: the token trades on decentralized venues such as a USDC/mUSD pool on Uniswap V4 on Ethereum. Liquidity concentrates in that single pool, so external venue depth for mUSD is thin compared with major stablecoins like USDC.

What is the mUSD contract address?

mUSD uses the identical contract address on both networks where it is live: 0xaca92e438df0b2401ff60da7e4337b687a2435da. The token deploys on Ethereum with 6 decimals and on Linea. Deployment is verifiable on Etherscan and Lineascan, and the verified source imports M0's token libraries — the code implements M0's stablecoin orchestration standard rather than a custom design.

How does mUSD compare to USDC and USDT?

mUSD differs from USDC and USDT in distribution rather than in peg design. All three are fiat-backed stablecoins pegged to the US dollar. USDC and USDT distribute primarily through centralized exchanges and institutional rails; mUSD distributes natively inside the MetaMask wallet, with Bridge (a Stripe company) as issuer and M0 as the settlement layer. MetaMask routes fee-free stablecoin swaps into mUSD to drive adoption.