Payments Infrastructure / Wallets & Identity

In Brief

RockWallet has announced that its MNEE stablecoin will be retired on November 30, 2026, ending issuance of the token on both BSV Blockchain’s 1Sat Ordinals protocol and Ethereum’s ERC-20 standard.

The decision accompanies a broader transition from RockWallet to MNEE App, which plans to introduce banking and payment services while adopting Open USD for its stablecoin account. Existing MNEE users face separate deadlines for in-app conversions and support-assisted redemptions, while the original RockWallet application is scheduled to close on December 7.

New Report

MNEE App CEO Ron Tarter announced the changes in an October 30 letter outlining the company’s plans for its wallet services, stablecoin operations, and forthcoming banking features.

The company will retire the MNEE token on November 30 across both networks where it was issued. The MNEE name will continue as the company’s application brand and account designation, but the original stablecoin will no longer be maintained.

Tarter attributed the decision to limited adoption of MNEE on 1Sat Ordinals, the difficulty of establishing a new stablecoin alongside widely used alternatives, and increased operational and compliance requirements under the U.S. GENIUS Act.

Rather than continuing to issue its own stablecoin, the company has signed an agreement to use Open USD, a stablecoin issued by Bridge and developed by Open Standard.

Open USD is expected to become the initial asset used within the forthcoming MNEE Account, a stablecoin account integrated into MNEE App.

The announcement does not establish that Open USD will be issued on BSV Blockchain or directly replace MNEE through the 1Sat Ordinals protocol.

MNEE Retirement and Redemption Deadlines

The retirement involves different procedures depending on where users currently hold MNEE tokens.

Users holding MNEE through either RockWallet application have until November 30 to convert their tokens into another supported asset or redeem them at a one-to-one rate for USDC.

According to the company, MNEE balances remaining in RockWallet on November 30 will become unspendable within the application. RockWallet plans to distribute equivalent USDC on Ethereum’s ERC-20 network to affected users.

For MNEE held in external wallets, the company offers support-assisted redemption through December 31. Users can contact RockWallet Support to arrange conversion to USDC, with the procedure available to customers both inside and outside the United States.

Support-assisted conversions of $100 or more require identity verification for users who have not already completed that process.

The company also describes an automatic conversion procedure for ERC-20 MNEE held in external wallets. Remaining balances after December 31 are scheduled to be converted to USDC on January 4, 2027, with the resulting tokens sent to the same addresses.

No corresponding automatic post-deadline procedure was specified for externally held MNEE on 1Sat Ordinals.

These differences make the redemption arrangements particularly important for BSV Blockchain users who hold MNEE outside RockWallet. The company has provided December 31 as the support-redemption deadline, but users should not assume that an ERC-20-specific automatic conversion procedure also applies to 1Sat Ordinals.

RockWallet 1.0 Closure and User Migration

The same announcement establishes a staged closure schedule for the original RockWallet application.

New purchases through RockWallet 1.0 will stop on November 16. Its conversion function will remain available until November 30, while the remaining application services are scheduled to close on December 7.

RockWallet is encouraging eligible U.S. customers to transfer their assets from the original application to RockWallet 2.0, which operates on a separate wallet platform.

Users outside supported U.S. jurisdictions are being directed to move their assets to independent wallets before December 7.

The company emphasizes that RockWallet 1.0 is a self-custodial application, meaning users retain their recovery phrases and private keys. Compatible wallet software may therefore provide another route to access assets independently of the retiring application.

BSV TIMES previously covered this continuity issue in September when Kallubi BSV Wallet published a recovery procedure using RockWallet’s documented BSV Blockchain derivation path.

The September report referred to a September 30 legacy-app retirement date. The newly published CEO letter now specifies December 7 for the closure of remaining RockWallet 1.0 services, with earlier November deadlines for individual functions.

MNEE App and Future Payment Services

RockWallet’s replacement strategy extends beyond a change of application name.

MNEE App is preparing to add U.S. checking accounts through a sponsor bank, together with direct deposits, debit-card functionality, and account rewards.

According to Tarter, RockWallet 2.0 will become MNEE App when the banking features launch. Existing RockWallet 2.0 users are expected to retain their accounts and credentials through an ordinary application update.

A beta release is planned for December 2026.

The company also plans to move toward a fully custodial model in 2027, replacing the current arrangement in which users manage their own private keys. That change remains a future plan rather than a completed transition.

The proposed banking features and stablecoin account will operate under different arrangements. Eligible bank deposits may receive applicable deposit insurance through the sponsor bank, while balances held as stablecoins or other blockchain assets will not carry that protection.

BSV TIMES Read

The retirement of MNEE is a practical example of how blockchain-based payment assets remain dependent on the organizations responsible for their issuance, redemption, and continuing operation.

MNEE’s presence on 1Sat Ordinals allowed a dollar-denominated asset to be transferred using BSV Blockchain. However, recording and transferring a token on a public blockchain does not independently guarantee the continuation of the issuer’s redemption arrangements.

The distinction becomes especially important when an issuer retires an asset across multiple networks. Blockchain records may persist, while the services that give an issued token its intended financial function can change or cease.

RockWallet’s decision also illustrates a broader separation between payment infrastructure and stablecoin issuance. The company intends to continue developing consumer payment services while relying on an externally issued stablecoin rather than maintaining MNEE itself.

For BSV Blockchain, the immediate significance is the withdrawal of an existing 1Sat Ordinals-based stablecoin and the need for users to complete the appropriate transition procedures. The longer-term question is whether other stablecoin providers and application developers will establish durable payment services using BSV Blockchain.

The MNEE retirement does not determine that wider outcome, but it provides a concrete example of the operational responsibilities involved in connecting blockchain assets with everyday financial services.

Developer Context

RockWallet is a U.S.-based digital-asset wallet provider operated by MNEE App LLC, formerly associated with the RockWallet brand.

Its original application offered self-custodial management of multiple blockchain assets, including BSV tokens. The company subsequently developed RockWallet 2.0, requiring existing users to transfer assets from the earlier wallet architecture.

MNEE was the company’s dollar-denominated stablecoin, issued through both 1Sat Ordinals on BSV Blockchain and ERC-20 on Ethereum.

Under CEO Ron Tarter, the company is now preparing to consolidate its consumer services under the MNEE App name, integrating wallet functions with proposed banking, payment, and account services.

Source Link

RockWallet — A Letter From Our CEO: RockWallet Is Becoming MNEE App

RockWallet — Migration to the New Application

RockWallet — Recovery Options for Customers Outside Supported Countries

BSV TIMES — Kallubi Publishes RockWallet BSV Recovery Path, September 27

Posted on October 31, 2026 (UTC)