MetaMask’s mUSD Hits $65 Million One Week After Launch, With Supply Largely on Linea
The wallet-native dollar token uses Bridge issuance under the GENIUS framework with 1:1 reserves and daily audits in regulated custody.
Overview
- Circulating supply rose by more than 300% from roughly $15 million at launch on September 15 to about $65 million by September 22.
- On-chain data show 88.2% of mUSD on the Linea Layer 2 network and 11.8% on Ethereum mainnet, reflecting a cost-focused deployment strategy.
- MetaMask integrated mUSD directly into its wallet for access by more than 30 million monthly active users from day one.
- Issuance runs through Bridge, a Stripe subsidiary, with minting infrastructure from M0, a setup credited with accelerating time to market.
- MetaMask says reserves are held in dollar‑equivalent assets such as short‑duration U.S. Treasuries, with GENIUS Act compliance and plans for MetaMask Card spending at over 150 million Mastercard‑accepting merchants by year‑end 2025.