MetaMask has announced the launch of Money Account — a new service for working with stablecoins inside its wallet. The product brings together fund storage, transfers, trading operations, and payments within a single balance.
According to MetaMask, users will be able to put their funds to work without withdrawing them from the service, while the balance earns a variable yield of up to 4% APY.
A Single Account for Every Operation
“Users no longer need to spread their funds across separate products for different use cases,” MetaMask stated.
Money Account runs on the Monad network and uses the mUSD stablecoin as its settlement asset. You can top up the account with stablecoins or buy mUSD through payment services. Other digital assets are automatically converted into mUSD.
According to the company, the service has no minimum deposit, no account opening fees, and no lock-up periods.
Money Account supports trading in tokens, perpetual contracts, tokenized stocks, ETFs, commodities, and prediction market instruments. Funds can also be transferred across major blockchain networks and used to pay for purchases with the MetaMask Card.
The Service’s Technical Foundation
MetaMask explains that mUSD is backed 1:1 by US dollars and short-term US Treasury bonds. The stablecoin is issued by Bridge, the service infrastructure is provided by Veda, and risk management is handled by Steakhouse Financial.
The rollout of Money Account has already begun in the MetaMask mobile app for iOS and Android.