MetaMask Combines Stablecoin Yield, Spending, and Trading in Single Wallet
MetaMask has launched its Money Account feature, a self-custodial wallet feature that combines stablecoin yield, card spending, and trading in a single balance. The product is built on Monad and uses MetaMask USD (mUSD), the wallet's stablecoin launched in September 2025. Eligible users can earn up to 4% variable APY on mUSD deposits.
The yield comes from DeFi lending strategies, rather than the stablecoin issuer. Deposits are routed through Veda's vault infrastructure into protocols including Morpho at launch, with Aave expected to follow.
The company said $mUSD backing and yield generation are separate systems. Bridge holds US dollars and short-term Treasury bills backing $mUSD 1:1, while lending protocols generate the returns reflected in user balances.
MetaMask said supported stablecoins, including $USDC, $USDT, and $DAI, can be converted into $mUSD at 1:1 parity with no conversion fees on supported chains. Users can also fund accounts through debit card, credit card, Apple Pay, or supported fiat on-ramps.