The MetaMask Money Account
Where stablecoins earn, spend, and trade.
The MetaMask Money Account is a self-custodial account inside MetaMask where a stablecoin balance can earn, spend, and trade from one place. Users can find the Money Account inside the MetaMask wallet, and Steakhouse curates the vault that produces the yield, monitoring the risk behind it.
Stablecoins are now a $320 billion market that settled $33 trillion in transactions in 2025. Yet most of that balance earns nothing, sitting idle in the wallets that hold it. The Money Account changes that by bringing earning, spending, and trading together under one experience inside MetaMask, the most widely used self-custodial wallet. The layers that make those deposits productive move into the background, requiring no actions from the user, where Steakhouse and the rest of the infrastructure handle them.
Earn, automatically
Users add funds to the Money Account directly in the wallet app, without leaving the app. Deposited stablecoins convert to mUSD, MetaMask’s dollar-denominated stablecoin and the unit the account runs on. Once using the Money Account, the balance earns up to 4%* variable APY, shown net of fees, so the rate is what holders actually receive. Only funds inside the Money Account earn: a stablecoin sitting elsewhere in the wallet does not.
Onchain lending markets are what power the Money Account. A user’s mUSD is lent into lending markets, where borrowers pay interest, and that interest generates the yield. It flows back into the mUSD balance and shows up as APY, with nothing to claim or reinvest. The balance updates in real time, and the rate moves as borrowing demand changes.
One balance, everything in one place
Funding Metamask Money Account is a single tap at 1:1 parity with no conversion fee, from USDC, USDT, and DAI, with Aave-wrapped versions of these stablecoins also accepted. mUSD can also be purchased directly with a debit or credit card or Apple Pay. Once the balance is in mUSD, the same funds can be used four ways, each drawing on the same balance with no transfer step in between.
Earn: The balance accrues yield continuously in the background, with no action required.
Spend: The Money Account connects directly to the MetaMask Card, online or tap-to-pay, at the hundreds of millions of merchants that accept Mastercard. Purchases settle straight from the users’ balance, and eligible purchases earn up to 3% back, paid in mUSD to the same balance (subject to regional restrictions).
Trade: The balance plugs into MetaMask’s built-in venues, from swaps to perps to prediction markets to tokenized real-world assets, with no transfer step in between (subject to regional restrictions).
Send: mUSD is a standard onchain token, the balance can be sent to any compatible wallet at any time, with no approval steps or send limits.
Every action within the Money account draws on the same balance, funds never have to be moved into a separate account first to earn, spend, or trade.
Where the yield comes from
When funds land in the Money Account, mUSD is deposited into a smart-contract vault built and maintained by Veda. The vault allocates to a predefined set of approved lending markets encoded in the vault’s smart contract. Initially, lending markets will be powered by Morpho, with more protocols to come. Steakhouse curates that set and monitors the vault’s allocations, liquidity conditions, and risk controls.
What to keep in mind
The Money Account earns a variable rate that moves with market conditions and is not guaranteed. The yield is generated through DeFi protocols, which carry smart-contract and protocol risk. It is a self-custodial account, not a bank account, and the balance is not insured by the FDIC. The holder controls the keys, which also means they are responsible for them. Full detail is in the disclaimer below and in MetaMask’s documentation.
Looking ahead
The economy is stablecoinizing under our feet, and the question is no longer whether people hold stablecoins but what those balances can do. A simpler, unified experience on a wallet that millions already use lowers the barrier to earning, spending, and trading onchain, and that ease is one of the clearest paths to bringing more users onchain in the first place. Steakhouse’s role is to keep the engine behind that experience reliable, curating where the yield comes from and watching the risks so the person using the account does not have to.
Learn more at metamask.io/money-account.
Disclaimer: Steakhouse Financial curates onchain yield strategies across multiple vault infrastructures. For more on how we evaluate infrastructure and monitor risk, visit steakhouse.financial.
The MetaMask Money Account is not a bank account, savings account, or regulated investment product. The Money Account balance (mUSD) is not insured by the FDIC or any government agency.
The rate shown is an estimated Annual Percentage Yield (APY). APY is variable and may fluctuate based on the performance of the third-party DeFi protocols and blockchain networks where funds are deployed. These carry inherent risks, including but not limited to smart-contract and protocol risk. In extreme cases, this could result in partial or total loss of funds. Withdrawals may be delayed if liquidity is tight.
mUSD is a stablecoin backed 1:1 by US dollars and short-term US Treasury bills, but like all crypto assets it carries inherent risks, including smart-contract risk and market volatility. You are responsible for all taxes, fees, and expenses associated with receiving and claiming any earnings, including gas fees.
The MetaMask Money Account is available only in eligible jurisdictions and is not offered in the UK or other restricted regions. It does not constitute an offer, recommendation, or solicitation to engage with digital assets, and it is not intended for jurisdictions where such participation would violate applicable laws or regulations. Users are responsible for ensuring compliance with the rules that apply to them.
Nothing in this article constitutes financial, investment, tax, or legal advice, nor a recommendation to buy or sell any digital asset or to adopt any investment strategy. DeFi protocols carry inherent risks, including smart-contract, oracle, and liquidity risk. Always conduct your own research before depositing. Terms are subject to change at the sole discretion of Consensys; please review the full MetaMask Terms of Use before using the Money Account.
Disclaimers → steakhouse.financial/disclaimers