Stablecoin platform M0 and U.S.-licensed issuer Bridge have formed a partnership to help businesses roll out custom digital dollars, with MetaMask’s proprietary token mUSD as the first example. The two firms announced the collaboration on Thursday, highlighting the combination of Bridge’s regulatory and reserve management expertise with M0’s blockchain infrastructure designed for application-specific stablecoins.
Application-specific stablecoins gaining traction
Stablecoins, which are pegged to assets like the U.S. dollar, have seen rapid growth, with the market now valued at $250 billion. These tokens have gained traction as a faster and cheaper alternative for international payments. The growing interest in stablecoins has been accelerated by the passage of the GENIUS Act, which set new federal standards for stablecoin issuers. The market for digital dollars has been booming with improving regulatory clarity, and application-specific stablecoins are increasingly popular.
Streamlined stablecoin issuance for businesses
MetaMask, a popular crypto wallet, was already working on its stablecoin project, as evidenced by a prematurely posted governance proposal earlier this month. Through its partnership with M0 and Bridge, MetaMask can offer a built-in digital dollar for its users while outsourcing the complex work of stablecoin issuance, compliance, and infrastructure. Zach Abrams, co-founder and CEO of Bridge, noted that the partnership has reduced the development time for custom stablecoin issuance from over a year to just a few weeks, making it easier for applications like MetaMask to launch their own branded dollar tokens.