MetaMask's native stablecoin, mUSD, has seen its circulating supply surge over 330% in its inaugural week, growing from approximately $15 million to $65.6 million. This rapid growth underscores strong initial demand for a stablecoin deeply integrated into a leading self-custodial wallet.

The launch marks a significant strategic move, as MetaMask is the first major wallet provider to issue its own stablecoin. Developed in partnership with Bridge and built on the M0 protocol, mUSD is designed for cross-chain interoperability, distinguishing it from competitors. This deep integration allows for seamless use across DeFi protocols, dapps, and future payment solutions like the MetaMask Card.

This development signals a major trend of financial infrastructure providers expanding into product offerings. By launching mUSD, MetaMask is directly challenging established stablecoins like USDT and USDC, aiming to capture transaction and liquidity value within its own ecosystem. The market's quick adoption suggests users value the convenience and potential efficiency of a wallet-native stablecoin, potentially reshaping the competitive landscape.