MetaMask introduces a new feature called Money Account, which integrates stable currency gains, payments and transactions into the same account. The product, published by its parent company, Consensys, shows that the wallet manufacturer is moving from an asset storage tool to a more complete chain of financial entry.
Money Account is built on the Monad block chain using a self-hosted mode. Users can hold stable currency balances in their accounts and consume them through MetaMask Card in a business that supports Mastercard. MetaMask attempts to place the three types of "store, use, swap" in the same product, reducing the number of users switching between multiple applications.
The account runs around mUSD
This feature is centred on MetaMask's own dollar-stabilized currency (MUSD). According to the company ' s presentation, the selected users receive up to 4 per cent of the floating annual gains, the funds are automatically allocated to decentrized lending agreements such as Morpho, and subsequent access to Aave is planned.
Consensys states that, in the process, users retain control of assets and do not need to place funds on a centralized platform.
No manual switching protocol
Unlike common DeFi revenue products, Money Account does not require users to transfer funds between different loan agreements or independent applications. Funds in the account can be used directly for other functions within MetaMask, including currency exchange, renewal contracts and the forecast market, without additional transfers.
This design focuses on compressing previously dispersed chain operations into a single account and lowering the threshold for the use of earnings and payment functions by the holders of stable currencies.
- Maximum return: 4 per cent floating year
- First agreement: Morpho
- Plan access: Aave
The stable currency scene continues to extend.
MetaMask says the size of the stable currency market has exceeded $32 billion. As encryption payment cards become more widespread, the issuer is trying to link the chain of assets to daily consumption and move beyond transactions and transfers.
The CEO of Consensys, Joe Lubin, a co-founder of the Ether Workshop, stated that the user had previously accumulated assets in MetaMask, but that it was difficult to keep this fund running. When the new account is online, the user can begin to receive the proceeds once the funds are deposited and can also consume them directly if needed.
The introduction of Money Account means that the wallet product competition is moving from “who is safer and who supports more chains” to “who can take on more stable currency finance”.