MetaMask MUSD Launch, Fed Governor Endorses Stablecoins

Welcome to The Daily Yield – your trusted daily source for stablecoin and industry news, powered by Stabledash and hosted by Drew Rogers.

Today's Headline Stories:

MetaMask Launches MUSD Stablecoin: First self-custodial crypto wallet to issue native stablecoin, issued by Stripe and minted via M0's decentralized infrastructure. Fully backed 1:1 by US cash and short-term Treasuries, debuts later this year on Ethereum and Linea with deep DeFi integrations and MetaMask card spending at MasterCard merchants.

Fed Governor Waller Endorses Stablecoins: Most explicit blockchain endorsement from high-ranking Fed official at Wyoming blockchain symposium, stating stablecoins could "maintain and extend dollar's international role"through 24/7 availability and rapid transferability. Urged policymakers to view DeFi as "nothing to be afraid of."

Tether's Treasury Holdings Exceed $127B: Q2 attestation places Tether among top 20 foreign holders of US government debt globally, surpassing Germany, South Korea, and Taiwan. Tether's buying power now influences treasury auctions and yields.

China Considers Yuan-Backed Stablecoin Reversal: Sources indicate potential approval of yuan-backed stablecoins, ending 2021 digital asset ban to challenge USD dominance in stablecoin space.