Metamask USD (MUSD) is a crypto-backed US dollar stablecoin issued by MetaMask (issued by Bridge, a Stripe company, on M0). It has about $38.0M in circulation, ranking #83 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
MUSD price
$0.9993
On peg Circulating supply
$38.0M
30-day change
+50.3%
Price
$0.9993
Blockchains
3
Tracked since
Oct 2025
What is MUSD?
Metamask USD (MUSD) is a crypto-backed US dollar stablecoin issued by MetaMask (issued by Bridge, a Stripe company, on M0). It has about $38.0M in circulation, ranking #83 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
MetaMask's native dollar stablecoin.
In the issuer's words: MetaMask USD (mUSD) is a cryptocurrency stablecoin, launched by MetaMask in September 2025. Issued by Bridge, and powered by M0, mUSD is the first stablecoin created by a self-custodial wallet. A stablecoin is a type of token that’s designed to maintain a steady value, by being pegged to less volatile assets like the US Dollar.
MUSD supply history
$92.1M$0
Oct 15, 2025Oct 8, 2026
$92.1M$0
Oct 15, 2025Oct 8, 2026
MUSD supply grew 50.3% over the past 30 days, to $38.0M. Its peak was $89.4M in October 2025, and supply is 57% below that high.
Is MUSD holding its peg?
Last price
$0.9993
Target
1.0000 USD
Status
On pegMUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where MUSD lives: supply by blockchain
MUSD is spread across several networks. The largest, Monad, holds 59% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How MUSD is backed
MUSD is backed by cash and short-term US Treasuries.
Minting and redemption: Issuance using Bridge.xyz , spendable equivalent to USD via metamask card at Mastercard merchants worldwide.
Reserve reports and audits: diligence.consensys.io
MUSD risks
Collateral and liquidations
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Smart contracts and oracles
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Small and thinly traded
With $38.0M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
MUSD vs USDT and USDC
Similar crypto-backed stablecoins
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MUSD in the news
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MUSD FAQ
What is MUSD?
Metamask USD (MUSD) is a crypto-backed US dollar stablecoin issued by MetaMask (issued by Bridge, a Stripe company, on M0). It has about $38.0M in circulation, ranking #83 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
Is MUSD pegged 1:1 to the US dollar?
MUSD targets 1 USD. At the last update it traded at $0.9993, a deviation of -0.07%, which we classify as "on peg".
What backs MUSD?
MUSD is a crypto-backed stablecoin. Cash and short-term US Treasuries.
Which blockchains is MUSD on?
MUSD is live on 3 blockchains. The largest by supply are Monad ($22.4M), Ethereum ($9.6M), Linea ($6.0M).
How much MUSD is in circulation?
About $38.0M of MUSD was in circulation at the last update, +50.3% over 30 days. That makes it the #83 stablecoin by supply among those we track.
Does MUSD pay interest?
No. MUSD does not pay yield to holders directly. Any interest earned on its reserves goes to the issuer. Some platforms offer rewards for holding it, but those are paid by the platform, not by MUSD.
Is MUSD safe?
No stablecoin is risk-free. As a crypto-backed design, MUSD's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. Its supply is small, so liquidity can be thin. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.