MetaMask debuts Money Account with mUSD yield and Monad card
MetaMask launched Money Account offering up to 4% variable APY on mUSD deposits and a card to spend mUSD on the Monad blockchain; unavailable in the UK, EU and sanctioned jurisdictions.
MetaMask, the self-custodial wallet developed by Consensys, launched Money Account on Tuesday. The product offers up to 4% variable annual percentage yield on eligible deposits of MetaMask USD (mUSD) and includes a card that lets users spend mUSD on the Monad blockchain. The service is available globally except in the United Kingdom, European Union member states and sanctioned jurisdictions.
Consensys says Money Account produces yield through decentralized finance lending strategies rather than issuer-paid interest. Deposits are routed into the on-chain vault provider Veda, which allocates capital to established lending protocols including Aave and Morpho.
Johann Bornman, MetaMask senior director of product, explained: “Simply put, mUSD’s reserve backing and the yield users earn are structurally separate. The yield doesn’t come from the issuer, it comes from DeFi protocol activity.”
Consensys described mUSD backing separately. Bridge, a Stripe company, holds U.S. dollar reserves and short-term Treasury bills to back mUSD on a 1:1 basis. Under that arrangement the issuer does not pay interest to holders; returns result from the DeFi layer that manages deposited funds.
Consensys CEO Joe Lubin wrote: “Your balance earns the moment you add funds, and you can spend the moment you need.”
Money Account itself does not require Know Your Customer checks, Consensys said. Features that interact with regulated services, such as fiat on-ramps and the MetaMask Card, require KYC; those checks are conducted by third-party providers that operate the regulated services.
mUSD launched in September 2025. Its market capitalization briefly exceeded $100 million after launch and stood near $32 million at the time of the Money Account announcement.
The launch occurs while U.S. lawmakers consider rules for yield-bearing stablecoin products. Proposed provisions in the CLARITY Act would limit the payment of interest on payment stablecoins in certain circumstances. Consensys designed Money Account to route deposited funds into DeFi protocols rather than make issuer-funded interest payments.
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