MUSD, the Bitcoin-backed stablecoin from the Mezo protocol, has surpassed $750 million in lifetime volume. The token now operates natively across three blockchains (Mezo, Ethereum, and Base) through Wormhole’s cross-chain infrastructure using a burn-and-mint mechanism that avoids wrapped versions. Approximately 913 BTC are currently locked as collateral, with an over-collateralization rate exceeding 110%. The protocol recorded around $789 million in transaction volume during the first half of 2026 alone, with just over 41,000 holders. Mezo’s mainnet launched on May 28, 2025, followed by the Wormhole integration on August 4, 2025.
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