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Deleted Proposal Suggests MetaMask mmUSD Stablecoin in the Works - Unchained
MetaMask could be planning to launch its own U.S. dollar-pegged stablecoin MetaMask USD (mmUSD) issued by Stripe, according to a now-deleted proposal on Aave’s governance forum
The proposal was authored by TokenLogic, an Aave DAO delegate that oversees key operations across the protocol, and called for a temperature check on adding mmUSD to Aave V3 on Ethereum and Linea.
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Details from TokenLogic’s initial post seemed to imply that mmUSD will utilize the M^0 network for onchain minting and redemption, enabling efficient, fully onchain issuance and settlement.
“mmUSD is intended to be the cornerstone asset of the MetaMask ecosystem,” read the proposal, noting that mmUSD could be expected to deepen stablecoin liquidity across decentralized protocols.
Neither MetaMask nor Stripe has publicly acknowledged or confirmed the development.