New the trend for stablecoins did not pass by MetaMask. The popular cryptocurrency wallet from Ethereum studio Consensys has introduced MetaMask USD (mUSD), a native stablecoin. mUSD will be issued by Bridge, a stablecoin platform owned by Stripe. The exchange will take place via the M0 decentralized infrastructure.
The company added that mUSD will be fully backed by 1:1 “high-quality, highly liquid dollar-equivalent assets” with real-time transparency and cross-chain interoperability through the M0 liquidity network.
MetaMask USD is fully collateralized by US cash and short-term income-generating treasury bonds.” The launch is expected to take place this month.
In the meantime stablecoins reached a volume of almost $1 trillion after the adoption of the American GENIUS Act, a law regulating payment stablecoins.
Source: MetaMask
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