MetaMask has launched Money Account, a new self-custodial feature inside its wallet that turns stablecoin balances into a productive, all-in-one financial account. The product was built on Monad, which will serve as its "home chain."
According to Tuesday's announcement, Money Account will enable users to earn up to 4% variable APY on their mUSD, MetaMask’s native stablecoin, through a simple deposit, with no staking, lock-ups, or manual actions required.
The balances are also connected to the Mastercard-powered MetaMask Card, so users can spend down their funds from a yield-bearing account, as well as MetaMask’s other trading offerings for swaps, perps, and prediction markets.
"For too long, the crypto experience has been fragmented; one place to trade, another to earn, another to spend," Consensys CEO Joe Lubin said in the statement. "People build their wealth inside MetaMask, but until now they couldn't keep it working here."
The move comes amid a wave of products looking to turn stablecoin balances into productive holdings. State Street, for instance, recently launched a SWEEP fund that lets investors "sweep" stablecoins into a yield-bearing tokenized fund.
