In a surprising development shaking the cryptocurrency ecosystem, a leaked governance proposal confirms that MetaMask is preparing to launch mmUSD, a dollar-pegged stablecoin developed in collaboration with fintech giant Stripe. According to the draft, mmUSD will serve as the backbone of the wallet’s service ecosystem, powering internal trading and lending operations, and will be additionally backed by the stablecoin platform M^0.
The mmUSD stablecoin is intended to be a core asset within the MetaMask ecosystem. It aims to reduce transaction volatility, enhance DeFi integration, and offer a more stable medium of exchange for users. However, neither MetaMask nor Stripe has officially confirmed the partnership, the launch of mmUSD, or a specific launch date. Both companies have declined to comment on the rumors.
Meanwhile, Ethereum is experiencing a historic trend: since June 1st, both exchange-traded funds (ETFs) and institutional treasuries have accumulated around 3.2% of the circulating supply — worth approximately $14 billion. At the same time, exchange reserves have dropped to levels not seen since 2016, drawing comparisons to Bitcoin’s legendary 2017 moment.
Macroeconomic concerns are also rising: analysts are projecting a 15% drop in the U.S. stock market this quarter, putting pressure on Bitcoin due to its correlation with risk assets. This situation raises questions about crypto’s resilience in the face of potential traditional market turbulence.
In a strategic regional move, MEXC Ventures has announced an investment in Indonesian exchange Triv, which is valued at $200 million. This step strengthens MEXC’s push for growth in Southeast Asia — a vibrant, emerging digital market where Triv already operates under full regulatory licenses from Indonesian authorities.
