MetaMask, the Ethereum wallet provider, is preparing to launch a new stablecoin named mmUSD, partnering with payment service Stripe. This announcement follows a governance proposal that appeared and was later removed. The stablecoin will serve as the primary trading pair for various MetaMask services. The rising interest in stablecoins, bolstered by regulatory changes in the U.S. and a growing acceptance by traditional financial firms, indicates a robust potential market. Current projections suggest the stablecoin market could expand from $280 billion to $750 billion by the end of 2026. Companies like JPMorgan Chase are also venturing into stablecoin initiatives, reflecting increasing institutional involvement in this sector. The new mmUSD aims to simplify cryptocurrency transactions for MetaMask's extensive user base of 100 million. A recent collaboration with Aave will allow users to generate yields through decentralized finance (DeFi) options directly via MetaMask, further enhancing its offerings.

Source đź”—