Ethereum-based representative wallet service 'MetaMask' is pursuing the issuance of its own stablecoin. According to foreign media reports, a governance proposal for the launch of 'METAMASK USD' (abbreviated as MMUSD) has been proposed within the MetaMask community.
This proposal involves collaborating with global online payment company 'Stripe' to expand the on-chain payment ecosystem through METAMASK USD. According to the proposal, the stablecoin will be a digital currency pegged to one dollar, directly linked to the MetaMask wallet to maximize user accessibility and utilization.
The purpose of issuing MMUSD goes beyond simple asset storage or trading, aiming to build an integrated Web3 payment infrastructure that encompasses online payments in real life. Particularly, through collaboration with Stripe, it is analyzed that this could be a new attempt to break down the boundaries between traditional finance and DeFi.
The governance proposal is known to have been proposed in the DAO form of ConsenSys, to which MetaMask belongs. While the official issuance schedule and specific collateral structure have not yet been disclosed, it is expected to be finalized after gathering community opinions and testnet verification.
Some are paying attention to how MetaMask can secure differentiation and ecosystem incentives in an already saturated stablecoin market. In particular, usability and securing global payment channels are expected to be key challenges.
