A governance proposal has accidentally disclosed plans for a new USD-pegged stablecoin from MetaMask, developed in collaboration with payments company Stripe.
According to Yahoo Finance, the token, named mmUSD, is intended to become a central trading pair within MetaMask’s services. The deleted proposal revealed that it would be integrated across features such as swaps, buying and selling functions, and yield-earning options. The post appeared on Aave’s governance forum and was removed shortly after publication. Representatives from Aave confirmed the document was genuine, explaining that the information was shared prematurely.
Stable growth and industry interest
Stablecoins, which represent cryptocurrencies pegged to traditional currencies like the USD or EUR, have seen significant expansion in 2025. Market data from DefiLlama values the sector at over USD 268 billion, with projections from Citigroup analysts estimating a rise to USD 3.7 trillion within five years. Other forecasts cited by Yahoo Finance suggest a USD 2.5 trillion market could arrive sooner.
Major financial and technology companies have shown increasing interest. PayPal operates a stablecoin with nearly USD 1 billion in value, while Robinhood and Revolut are also exploring similar projects. Stripe, MetaMask’s new partner, previously acquired stablecoin project Bridge in a deal exceeding USD 1 billion in 2024.
Last week, MetaMask and lending protocol Aave announced a partnership allowing wallet users to access yields from Aave’s stablecoin lending pools directly through the MetaMask mobile application. M^0 Foundation representatives declined to comment on the newly revealed token, while Stripe did not respond to enquiries.
Officials from Consensys, MetaMask’s parent company, stated that they are continually evaluating ways to improve the wallet experience, but declined to address speculation regarding the stablecoin.
