MetaMask has launched a new self-custodial account that combines stablecoin yield, payments and trading in a single product, as wallet providers increasingly compete to become broader financial platforms rather than simple crypto storage tools.
The new “Money Account,” announced Tuesday by MetaMask parent Consensys, is built on the Monad blockchain and allows users to earn yield on stablecoin balances while spending funds through the MetaMask Card at merchants that accept Mastercard.
The account is centered around mUSD, MetaMask’s proprietary dollar-pegged stablecoin. Users who opt in can earn a variable annual percentage yield of up to 4% by having deposits automatically allocated to decentralized lending protocols including Morpho, with Aave integrations planned. Consensys said users retain custody of their assets throughout the process.
The launch reflects a broader push to make stablecoins more useful beyond trading and transfers. The stablecoin market has grown to more than $320 billion, according to MetaMask, while crypto-linked payment cards have gained traction as issuers look to bridge onchain assets with everyday spending.