MetaMask Rumored to Develop mmUSD Stablecoin With Stripe

MetaMask, the world’s most popular cryptocurrency wallet, is rumored to be developing a new stablecoin called mmUSD in collaboration with payment processing giant Stripe. According to reports circulating on social media and crypto forums, the stablecoin—pegged to the U.S. dollar—would leverage Stripe’s Bridge infrastructure and operate off-chain through the M-Zero network and other third-party systems [1]. The initiative was initially proposed on the Aave Governance forum on August 5, 2025, by the TokenLogic group, suggesting the integration of mmUSD into Aave v3 pools on Ethereum and Linea [2]. However, the proposal was swiftly removed, with only screenshots remaining as evidence of its existence.

The rumored partnership has generated significant interest within the crypto community, with some viewing it as a strategic move to bridge traditional finance with decentralized platforms. Supporters highlight MetaMask’s massive user base as a potential catalyst for rapid adoption and point to the proposed “Seed Vault” mechanism, which aims to enhance the security of digital assets [2]. Additionally, mmUSD is expected to facilitate DeFi transactions, payments for goods and services, and seamless transfers, mirroring the experience of traditional online payment systems.

Nonetheless, the project has also raised concerns over centralization. Critics argue that by partnering with a centralized entity like Stripe and operating off-chain, MetaMask risks compromising its decentralized ethos [1]. Questions remain about regulatory compliance, asset custody, and the governance model of the stablecoin. The competitive landscape for stablecoins is also notably crowded, with existing offerings such as USDC, USDT, and DAI dominating the market, which could challenge mmUSD’s prospects for success [2].

MetaMask and Stripe have both declined to confirm or deny the rumors, and no official project timeline has been released. This lack of transparency has fueled speculation and debate across the crypto community. Previously, MetaMask introduced the Stablecoin Earn feature, which allows users to earn yield on USDC, USDT, and DAI through Aave integration without leaving the app [2], suggesting a continued interest in expanding its financial offerings.

If launched, mmUSD could mark a pivotal moment in the evolution of DeFi and traditional financial infrastructure. However, the success of the project will depend heavily on how well it navigates regulatory scrutiny, competitive pressures, and the expectations of a community deeply invested in decentralization principles.

Source:

[1] Is MetaMask Taking a Dangerous Turn? New Partnership ...

https://visi.news/is-metamask-taking-a-dangerous-turn-new-partnership-with-stripe-to-launch-stablecoin-raises-eyebrows/

[2] ICO Drops - X

https://x.com/ICODrops/status/19529495139****5323