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MetaMask, stablecoin 'mmUSD' issuance plan
On August 5, major cryptocurrency wallet MetaMask announced plans to issue its own stablecoin "MetaMask USD (mmUSD)" in partnership with US payment giant Stripe. On the same day, TokenLogic submitted a proposal for integration into the Aave v3 core protocol on Ethereum and the Linea network.
M^0 (M Zero) Network is a protocol that enables institutional-level stablecoin issuance through decentralized infrastructure, positioned as a new technology to replace traditional centralized issuance systems. This protocol operates on Ethereum (ETH) and Solana (SOL).
This partnership aims to leverage Stripe's existing financial infrastructure to enhance the stability and convenience of altcoin transactions. It functions as a bridge between traditional financial systems and decentralized platforms, aiming to transform DeFi user behavior.
This announcement came just after President Trump signed the Genius Bill on July 19, which lifted the ban on new issuance of stablecoins in the United States. The bill establishes a federal regulatory framework for a $250 billion stablecoin market and mandates full collateralization by USD and U.S. Treasury bills.
The specific structure of mmUSD, launch timing, and regulatory compliance details are limited, but it is characterized by a fully on-chain issuance that differs from traditional centralized models. As a major project entering the U.S. stablecoin market after the establishment of the Genius Act, it has garnered significant attention from the cryptocurrency industry.