MetaMask may announce its own stablecoin this week | CoinDesk JAPAN

• MetaMask is working on the issuance of tokens linked to the US dollar with the cooperation of Bridge, a payment platform acquired by fintech giant Stripe this year.
• According to sources, MetaMask is seeking cooperation from alternative asset management company Blackstone to receive support for mUSD custody and treasury management services.

The MetaMask stablecoin (mUSD) has already been reported to be in development due to a governance proposal that was hastily posted and then deleted last week. After a possible announcement this week, stakeholders stated that the MetaMask stablecoin is expected to be issued by the end of this month.

With the official announcement of monthly active users exceeding 30 million, MetaMask is working on issuing its own stablecoin with the collaboration of Bridge, which was acquired this year by fintech giant Stripe, and the stablecoin issuance protocol M^0. Bridge assists companies in integrating stablecoin payment infrastructure.

MetaMask is not only closely collaborating with the bridge regarding the stablecoin mUSD, but also seeking cooperation from Blackstone, a traditional financial alternative asset management company, to provide token custody and treasury management services, according to sources.

MetaMask and M^0 refrained from commenting. Blackstone and Bridge have also not yet responded to requests for comments.

Like other large cryptocurrency platforms that hold substantial user funds in the form of major stablecoins such as Tether (USDT) and Circle’s USD Coin (USDC), the background of MetaMask issuing its own stablecoin lies in the ability to share the yields of the underlying assets of stablecoins, which are typically short-term and highly liquid bonds such as U.S. Treasury bonds.

| Translation and Editing: Rina Hayashi |Image: Unsplash ｜Original: Ethereum Wallet MetaMask Will Likely Unveil Its Own stablecoin this Week