---
title: "MetaMask USD (MUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/musd-metamask/"
description: "Build-time stablecoin profile for MetaMask USD (MUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# MetaMask USD (MUSD)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

MetaMask mUSD is what happens when a wallet with tens of millions of users decides to vertically integrate — issued by Stripe's Bridge on M0 protocol rails, with 85% in {{term:treasury}}T-bills{{/term}} and 15% in bankruptcy-remote cash verified by real-time on-chain {{term:attestation}}validator attestations{{/term}}. The B- safety grade reflects a split decision: near-flawless peg behavior and institutional-regulated {{term:custody}}custody{{/term}} that rarely leaves the calm end of the stress scale, dragged down by a wholly centralized control model and liquidity that earns no better than a passing grade. The reserve composition reads like a compliance team's wishlist, but the secondary market hasn't fully caught up with primary-market confidence — a few dozen brief depeg blips, including a 557-bps positive spike, show that arbitrage works in theory while DEX liquidity stays spread wide and shallow. For a product with that distribution funnel the supply is still modest, which keeps the moat narrative aspirational rather than realized: the funnel exists, the float to fill it does not yet.

## Collateral

Cash and short-term U.S. Treasury securities held in bankruptcy-remote custody, issued by Bridge (a Stripe company) using the M0 protocol

## Peg Mechanism

1:1 mint and redemption via Bridge using M0 protocol infrastructure; reserves continuously validated on-chain by independent validators; arbitrage corrects price drift; monthly public attestations

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xaca92e438df0b2401ff60da7e4337b687a2435da` | 6 |
| linea | `0xaca92e438df0b2401ff60da7e4337b687a2435da` | 6 |
| monad | `0xaca92e438df0b2401ff60da7e4337b687a2435da` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/musd-metamask.