MetaMask, the Ethereum wallet with over 30 million monthly users, is preparing to launch its own U.S. dollar-pegged stablecoin, mUSD, as soon as this week, according to a source. The token is expected to go live by the end of August.

Bullish, the crypto exchange operator and owner of CoinDesk, surged 84% in its first day of trading after raising $1.1 billion in an initial public offering on the New York Stock Exchange. 

Google has clarified that non-custodial cryptocurrency wallets will remain available on its Play Store after an earlier post suggested they could be banned in several countries, including the U.S. and UK.

Top stories in the Crypto Roundup today:

• MetaMask to Launch Its Own USD-Pegged Stablecoin
• Bullish Shares Surge 84% in $1.1B NYSE Debut, Valuing Crypto Exchange at $9.9B
• Google Clarifies Play Store Rules Will Not Ban Non-Custodial Crypto Wallets

MetaMask to Launch Its Own USD-Pegged Stablecoin

MetaMask, the Ethereum wallet with over 30 million monthly users, is preparing to launch its own U.S. dollar-pegged stablecoin, mUSD, as soon as this week, according to a source. The token is expected to go live by the end of August.

The project involves Bridge, a stablecoin payments facilitator acquired by Stripe, and issuance protocol M^0. Blackstone will provide custody and manage the token’s reserves.

Like other major crypto platforms, MetaMask aims to capture returns from assets backing the stablecoin, typically short-term U.S. Treasuries and other liquid securities.

Bullish Shares Surge 84% in $1.1B NYSE Debut, Valuing Crypto Exchange at $9.9B

Bullish, the crypto exchange operator and owner of CoinDesk, surged 84% in its first day of trading after raising $1.1 billion in an initial public offering on the New York Stock Exchange. 

Shares closed at $68, well above the $37 offer price, valuing the Cayman Islands-based firm near $10 billion.

The IPO, upsized to 30 million shares earlier in the week, drew demand more than 20 times its size, with about a third of orders going unfilled. 

Led by former NYSE president Tom Farley, Bullish targets institutional clients with spot, margin and derivatives products, though leveraged offerings are unavailable in the U.S.

Bullish trades under the ticker BLSH, with JPMorgan, Jefferies and Citigroup leading the offering.

Google Clarifies Play Store Rules Will Not Ban Non-Custodial Crypto Wallets

Google has clarified that non-custodial cryptocurrency wallets will remain available on its Play Store after an earlier post suggested they could be banned in several countries, including the U.S. and UK.

The confusion stemmed from an update to the company’s cryptocurrency policy, which requires custodial wallet providers and exchanges to meet local registration and licensing rules starting in October.

“Non-custodial wallets are not in scope of Google Play’s Cryptocurrency Exchanges and Software Wallets Policy,” the company said in a post on X, adding it would update its Help Center to reflect the clarification.

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