Metamask officially unveiled his indigenous Stablecoin on Wednesday, the first of its kind launched by a self -spice wallet.
The token, re-synchronized musd, will be fully integrated with the Metamask Defi-eco system, and will enable users of the dominant Ethereum portion to easily introduce self-bordering cryptocurrencies in Dollar-Pegers.
The Stablecoin is published by Bridge, one Streak company, and one-on-one supported by Dollar Equivalent Assets in accordance with the recently adopted Genius Act.
At the launch, later this year, Musd will be available in Wallet both on Ethereum and LineaThe Layer-2 blockchain developed by the parent company of Metamask, Consensys. (Disclosure: Consensys is one of them 22 Investors in Decryptthat retains editorial independence.)
By the end of the year, however, Metamask intends to make Musd possible as a payment method for the physical metamask debit cardIt is powered by Mastercard.
Stablecoin Gambit from Metamask, that Decrypt reported on last weekthe wallet developer will participate more and more Busy The crowd of participants who want to benefit from the growing, now federal green -lit sector. But the leadership of the company is convinced that Musd will have a lead over other Stablecoin emennent, given the ingrained public of millions of active crypto-traders from Metamask.
Ajay Mittal, the VP of the product strategy of Metamask, said Decrypt The integration of Musd into the Metamask -Ecosystem will offer the Stablecoin various benefits compared to the more “fragmented” user experiences of competitors. They can potentially include lower costs, larger composability and more flexible transaction flows, he said.
Mittal added that, from the Perspective of Metamask, the goal is not to become MUSD alone the Connective liquidity layer in the wallet ecosystem, but also throughout Defi.
Just like other stablecoins made for payment companies, Musd is not crucially published by Metamask itself, but by Stripe, a third party. The Genius Act, signed by President Donald Trump last month, forbids Stablecoin -Emitents to allow customers to generate rewards or yields on their deposits, but does not set such an attitude against other companies that do this.
This subtle distinction in the law, which is fiercely resisted by the banklobbyhave allowed companies such as PayPal and Coinbase lucrative return To customers on stablecoins – even those named or previously published by the companies. Such companies have maintained that offering customers a considerable annual return on Stablecoin deposits, usually between 3% and 5%, is the key to the popularity of the products.
When asked whether the company is planning to offer rewards to Musd deposits to customers, Mittal replied: “Currently, Musd will not offer any returns to users. However, Musd could play a role in future stimulation programs within Metamask.”
