Catenaa, Friday, September 26, 2025-MetaMask mUSD stablecoin reached a circulating supply of $65 million just a week after launch, up from $15 million, highlighting growing adoption of dollar-backed crypto assets.
The stablecoin is fully backed 1:1 by highly liquid dollar-equivalent assets and is issued through Bridge, Stripe’s stablecoin platform, with minting supported by M0’s decentralized infrastructure. Data from Dune analytics shows that 88.2% of mUSD is deployed on Linea, with the remainder on Ethereum.
MetaMask rolled out mUSD amid broader US regulatory developments. Following the passage of the GENIUS Act, stablecoins have become a major focus for crypto firms seeking compliant solutions. MetaMask’s launch is one of several recent stablecoin initiatives, alongside Kaia and LINE NEXT, which announced plans to launch a stablecoin superapp later this year.
The launch of mUSD adds to the US dollar-pegged stablecoin market, which now totals $279.8 billion in circulation. Tether (USDT) remains the largest stablecoin with $172.3 billion, while other emerging digital dollars gain traction in decentralized finance and Web3 ecosystems.
MetaMask’s rapid issuance reflects strong demand for user-friendly, non-custodial stablecoin options. Analysts note that stablecoins are increasingly seen as foundational for blockchain-based financial services, payments, and portfolio diversification, signaling continued growth in mainstream adoption.
