Ethereum wallet Metamask announced on Monday the distribution of its first native Stablcoin, 1906 million Metamsk USD (MUSD).
The asset was launched with Ethereum and the main online network, the second solution developed by Consensys. Each MUSD unit in circulation corresponds to a comparable asset supported by dollars.
According to the issuing company, the technical framework was developed by Bridge.xyz via the M^0 Cryptocurrency Platform Platform Protocol, so that the supply is covered by verifiable reserves.
The Metamk team says MUSD is trying to simplify transit for users between different cryptocurrency services. It is directly integrated into your wallet of self-capability.
Cryptonotics reported that a stable cryptocurrency was announced on August 21st. That wasn’t until September 15th, when the company gave “life” to its market projects.
Now in circulation, MUSD will be available on the Ethereum Virtual Machine (EVM) protocol, the loan market, decentralized exchange, and custody platforms. It can also be used with lamps to convert fíat currency into cryptocurrencies, exchange operations, and decentralized finance applications. The integration includes support for MetAMK features such as Swap and Bridge.
Metamask emphasized that token liquidity involves incentives within the line. Low cost is also foreseen at Fíat Ramps. Similarly, the possibility of moving highly efficient funds between different networks.
However, digital currency enters a market controlled by two large emitters: Tether (USDT) and Circle (USDC). This concentrates a large portion of the sector’s global capitalization volume.
