MetaMask launched Money Account on June 30, adding a dollar account that earns up to 4% variable APY and lets users spend through a Mastercard debit card inside its self-custody wallet.
The account uses mUSD, a dollar-pegged stablecoin backed 1:1 by US dollars and short-term Treasury bills, held in regulated custody by Bridge. Deposits are auto-allocated to Morpho lending markets at launch, with Aave planned as the second integration. Vault infrastructure is managed by Veda. Network fees on Monad are fully sponsored for Money Account users.
Money Account runs on Monad, an EVM-compatible Layer 1 blockchain built for parallel transaction execution. The chain processes 10,000 transactions per second with 400-millisecond block times and sub-second finality. Monad has not been covered previously by Crypoch.
Users can fund mUSD from USDC, USDT, DAI, or Aave-wrapped versions of those three at 1:1 parity with no conversion fee. Spending runs through the MetaMask Card on Mastercard rails, and purchases earn up to 3% cashback in mUSD.
Consensys founder Joe Lubin framed the product as a shift away from idle wallet balances. "Your balance earns the moment you add funds, and you can spend the moment you need to," he said.
The product is available globally, excluding the UK and certain other jurisdictions at launch.