MetaMask launches stablecoin yield account with card spending
Summary
MetaMask is launching Money Account, a new product for its mUSD stablecoin that lets users earn up to 4% variable APY on eligible deposits and spend funds with a card on the Monad blockchain. Yield is generated through DeFi lending, not issuer-paid interest: mUSD is backed 1:1 by dollar reserves and Treasuries held by Bridge, while deposited funds are routed through Veda into protocols like Aave and Morpho. The feature is rolling out globally except in the UK, EU member states, and sanctioned jurisdictions. MetaMask says Money Account itself does not require KYC, though KYC is needed for regulated services such as fiat on-ramps and the MetaMask Card. The launch comes amid US debate over yield-bearing stablecoins.
