What MetaMask USD is designed to do

MetaMask USD (MUSD) is a fiat-backed stablecoin, currently ranked 244th by market capitalization among the assets we track. MetaMask USD is a fiat-backed stablecoin: each token is meant to be redeemable for a reference currency held in reserve, so its job is to stay flat, not to appreciate. It is plumbing for the crypto economy rather than a bet on price.

MetaMask USD (MUSD) is a stablecoin designed to provide a reliable, digital dollar equivalent for transactions within the MetaMask ecosystem. It aims to facilitate seamless trading and interactions on decentralized platforms.

How the peg is meant to hold

A fiat-backed stablecoin holds its peg through redemption: if MUSD trades below its target, arbitrageurs buy it cheap and redeem at par, and vice versa. That arbitrage only works if redemption is real and reserves are sufficient.

Background & fundamentals

In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), Stablecoin, and Linea Ecosystem.

Where MetaMask USD sits in the market

Trading around $0.9997, MetaMask USD carries a market capitalization of $99.81M. Around $6.14M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 6.15% of the float — a healthy level of activity for an asset this size.

MetaMask USD carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. At the current $0.9997, MUSD sits essentially at its record high — the riskier end of the range for fresh entries.

What the price history shows

The tape currently reads 24-hour -0.03%.

Volatility profile

Recent action puts MetaMask USD in the Low-volatility band — it has been relatively stable, with moves typical of large-cap, mature assets.

How to evaluate a stablecoin like MetaMask USD

A grounded read on MUSD comes down to three questions:

  • Reserve quality — what backs MUSD — cash and short Treasuries are safer than commercial paper or crypto collateral — and who attests to it.
  • Redemption access — whether holders can actually redeem at par, and how quickly, under stress.
  • Regulatory standing — the issuer's jurisdiction and licensing, which increasingly determines which stablecoins survive at scale.

This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.