Metamask, the cryptocurrency wallet that grew to popularity within the Ethereum blockchain ecosystem, is likely to reveal the details of its own custom stable in US dollars shortly, potentially as soon as this week, according to a person familiar with the matter.
The metamask stablecoin (MUSD) It was already reported that it was in process thanks to a prematurely published government proposal that was quickly eliminated last week. After this week’s possible announcement, the new dollar token will become a live asset at the end of this month, the person said.
Metamask, who has said that he has more than 30 million active monthly users, is working to broadcast his stablecoin with the help of Bridge, a company that was acquired by Fintech Giant Strip earlier this year that helps companies integrate the Stablecoin payment rails and the Stablecoin M^0.
In addition to working in close collaboration with Bridge On the Musd Stablecoin, Metamk has also requested the help of the Blackstone traditional finance asset manager to help with the custody and treasure management services for the Token, said the person.
Metamask and m^0 declined to comment. Blackstone and Bridge did not immediately respond to comments requests.
Like several other large cryptographic platforms that contain significant amounts of user funds in the form of the main stablcoins such as the USDT of Tether and the USDC of Circle, the prerogative of Metamk to launch a brand stable brand is driven by the opportunity to share in the performance of the underlying sequels of the stable, usually highly liquid short ties such as US treasures.
