Vitalik-Backed MegaETH Sees USDm Stablecoin as Core of ‘Self-Sustaining’ Economy

Interview with Shuyao Kong, MegaETH co-founder

USDm revenue to subsidize gas fees and fund token buybacks

Targeting emerging-market RWAs and the on-chain finance market

AI agent-integrated wallet ‘Moss’ set to launch this month

“Gamified trading could have strong synergies with Korea”

“MegaETH is not just technical infrastructure. The core is to build a self-sustaining economic structure in which revenue and liquidity circulate within the ecosystem, centered on our native stablecoin, USDm.”

Shuyao Kong, co-founder and chief business officer of MegaETH, made the comments in an interview with BloominBit on May 14. MegaETH is a Web3 project backed by Ethereum creator Vitalik Buterin and Consensys founder Joseph Lubin that aims to build a real-time blockchain capable of ultra-fast processing.

Kong outlined MegaETH’s USDm-based economic model, its strategy for onboarding real-world assets in emerging markets, and its plan to expand the ecosystem through a new wallet called Moss, which is due to launch this month.

Linking USDm revenue to fees and token buybacks

Kong said MegaETH is pursuing an ecosystem with a stablecoin-based revenue structure and its own economic engine, distinguishing it from existing Layer 1 blockchains.

At the center of that strategy is USDm, MegaETH’s native stablecoin. Supported by BlackRock, USDm serves as the base currency of the MegaETH ecosystem. MegaETH uses revenue generated through USDm to subsidize blockchain fees and fund buybacks of the MEGA token.

“When users transact with USDC or USDT on existing blockchains, the revenue goes to the issuers, Circle or Tether,” Kong said. “MegaETH, by contrast, uses the revenue from USDm to help lower users’ network fees or repurchase its native token, MEGA.”

He added that many existing blockchains lack compelling applications as well as the economic engine needed to drive an ecosystem. Unlike chains such as Solana, Near and Ethereum, which he described as closer to technical platforms, MegaETH is designed more as an economic system.

Emerging-market RWAs in focus, with products yielding more than 20% annually

Rather than target the maturing market for dollar-based tokenization, MegaETH is focusing on emerging markets. Its strategy is to bring financial assets from Turkey, Latin America and Pakistan on-chain.

“What the market lacks right now is emerging-market RWAs,” Kong said. “MegaETH plans to bring financial assets from Turkey, Latin America and Pakistan on-chain and expand from there. Those assets will be a key differentiator for MegaETH.”

One example is Brix, a decentralized finance platform built around Turkish money market funds. Brix offers products with annual yields of more than 20%.

MegaETH is also targeting the foreign-exchange market. FX is the world’s largest financial market, Kong said, but it requires extremely low latency, making it difficult to implement on existing blockchains. MegaETH believes its real-time blockchain architecture and emerging-market RWA onboarding strategy can support an on-chain FX market as well.

New wallet ‘Moss’ due this month, with Korea also in focus

Moss, a new wallet designed as a core interface for the MegaETH ecosystem, is scheduled to launch this month. The wallet is meant to go beyond simple asset storage and serve as an integrated interface linking on-chain services with AI functions.

MegaETH is pursuing a structure that connects its blockchain, decentralized application ecosystem and wallet in a single framework unified through the USDm stablecoin. Moss will connect wallets, applications and the blockchain environment in one flow, Kong said, adding that the company also plans to provide a software development kit for developers.

He said Moss will support session keys, social logins and granular permission settings. It was also designed with AI agents in mind. MegaETH wants to use that foundation to build infrastructure for a programmable “agent economy.”

Kong also expressed optimism about South Korea, calling it an ideal market for expanding the gamified trading ecosystem MegaETH wants to build.

“MegaETH wants to make asset trading itself a more intuitive and enjoyable experience,” he said. “Our goal is to build a new form of asset experience and user experience on-chain.”

“Korea has a strong gaming culture, so we see it as a strong fit for gamification-based trading experiences,” he said. “MegaETH is building games, entertainment and game-like trading platforms, and we believe that structure has significant room to scale in the Korean market as well.”

Kang Min-seung, BloominBit reporter minriver@bloominbit.io