MetaMask has launched Money Account, a self custodial balance that allows users to earn up to 4% annual yield while keeping funds available to trade, transfer or spend.

Deposits into the account are converted into MetaMask USD (mUSD), a dollar backed stablecoin issued by Bridge, a Stripe company. Supported stablecoins including USDC, USDT and DAI can be converted at a one to one rate without conversion fees.

The account runs through MetaMask Mobile and is built around mUSD on Monad. Users can also purchase mUSD directly using a bank account, payment card, PayPal, Apple Pay or Google Pay, depending on regional availability.

Money Account begins generating yield as soon as it is funded, with no minimum deposit or required lockup. Earnings are reflected directly in the account balance without requiring users to claim or manually reinvest them.

The yield comes from a third party smart contract vault that allocates funds across decentralized lending protocols including Aave and Morpho. Steakhouse Financial monitors allocations and liquidity conditions, while Veda maintains the vault infrastructure.

Users retain control of their private keys, meaning MetaMask cannot freeze or move balances. Funds can be withdrawn at any time, although temporary delays may occur when liquidity is limited.

Money Account is also connected to MetaMask Card, allowing users to spend mUSD at Mastercard merchants and receive up to 3% back on eligible purchases. The remaining account balance continues generating yield while funds are being used elsewhere.

MetaMask said Money Account is rolling out through version 8.0.0 of its mobile application. The product is available globally except in the United Kingdom and countries covered by United States sanctions.

MetaMask said the advertised 4% APY is variable and not guaranteed. The company also noted that Money Account is not a bank account or regulated savings product, while mUSD balances are not protected by the FDIC or another government insurance program.