Popular cryptocurrency wallet MetaMask plans to announce details of its new US dollar-pegged stablecoin, mUSD, this week. According to sources familiar with the matter, the token is slated for launch by the end of the month. MetaMask, which has reached a large user base in the Ethereum ecosystem, will launch its stablecoin with support from Bridge and its stablecoin issuance protocol, M^0. Alternative asset management giant Blackstone, from the traditional finance world, will handle the custody and treasury management services for mUSD. Related News: BREAKING: Coinbase Lists Expected Altcoin - It Had Given the Signal MetaMask's stablecoin plans were brought to the forefront last week when a governance proposal was accidentally published and quickly deleted. The platform, which boasts over 30 million monthly active users, aims to rival market-leading stablecoins like Tether's USDT and Circle's USDC with this move. Bridge, acquired by fintech giant Stripe earlier this year, specializes in providing businesses with stablecoin-based payment infrastructure. M^0 is a prominent protocol used in stablecoin issuance processes. Sources indicate that MetaMask's move is motivated by a desire to share in the returns generated by stablecoin reserves, which are typically generated by short-term, highly liquid assets like U.S. Treasury bonds. *This is not investment advice. Continue Reading: Anticipated Altcoin Approaching: Announcement Expected Any Moment Now – Here Are the Details
