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This paper presents the development of a small low cost USB powered electronic prototype, witch is able to generate typical wave signals (sinusoidal, square and triangular), within a 10 V adjusted maximum peak-amplitude (between +5 V and -5 V), and up to 1 MHz frequency. This electronic prototype can also generate any wave voltage output, previously defined by a single source MATLAB MAT-file and with the aid of a special developed software application that communicates via USB port with it. The developed electronic device is far more than a simple USB signal generator, and can be quite useful for signal processing and electronic testing. MatWave can generate basic signals, such as known waveforms like sinusoidal square and triangular, and even more complex output signals, point-to-point, defined in a MAT-file, or directly inserted from the developed application.