Exodus and MoonPay Collaborate to Launch Stablecoin Backed by US Dollars for Everyday Transactions

Summary:
Digital asset platform Exodus has partnered with the crypto payment firm MoonPay to introduce a US dollar-backed stablecoin aimed at everyday use, scheduled for launch in early 2026. This stablecoin will enable seamless digital dollar transactions globally through Exodus Pay, enhancing user experience without requiring deep technical knowledge.

Key Takeaways:

Exodus and MoonPay intend to launch a fully reserved US dollar stablecoin for everyday transactions in early 2026.
The stablecoin will enhance Exodus Pay, allowing users to spend and send digital dollars worldwide while ensuring self-custody.
MoonPay and M0 will oversee the issuance and infrastructure of the stablecoin.

Exodus, recognized for its self-custodial crypto wallet, announced on Tuesday that the fully reserved digital dollar is set to debut in early 2026.

The stablecoin will be issued and managed by MoonPay, utilizing M0, a platform that provides stablecoin infrastructure for companies to create and manage fiat-backed tokens.

Exodus and MoonPay Collaborate to Launch Stablecoin Backed by US Dollars for Everyday Transactions

Introducing Exodus Pay for Global Digital Dollar Transactions

The yet-to-be-named stablecoin will be integrated into Exodus Pay, a new payment feature within the Exodus app. This integration aims to allow users to spend and transfer digital dollars globally while retaining self-custody, eliminating the need for technical expertise in cryptocurrencies or blockchain technology.

“Stablecoins are rapidly becoming the most straightforward way for individuals to hold and transfer dollars on-chain, but the user experience must align with the current expectations of consumer applications,” stated JP Richardson, co-founder and CEO of Exodus. He further explained that the project strives to make digital dollar payments as effortless as using traditional financial applications, beginning with Exodus Pay.

MoonPay will facilitate the distribution of the stablecoin through its global network, which will support functions such as buying, selling, swapping, deposits, and checkout services.

According to both companies, the broad integration aims to provide the digital dollar with immediate practical utility for consumers, merchants, and partner applications.

This cooperation comes as MoonPay broadens its enterprise stablecoin initiative, which it launched in November, focusing on managing compliant digital dollars across various blockchains.

The collaboration with M0 enables the issuance of programmable and interoperable stablecoins while being customized for specific product use cases. “Enterprises seek stablecoins that are programmable, interoperable, and tailored to their unique product experiences,” remarked Luca Prosperi, co-founder and CEO of M0. “Our platform is designed to deliver that flexibility at scale.”

Increasing Interest in Stablecoins Amid Regulatory Developments

This announcement coincides with a renewed interest in stablecoins following the enactment of the GENIUS Act in July, which established a federal regulatory framework for fiat-backed stablecoins in the United States. As a result, both banks and crypto firms have intensified their efforts to launch proprietary digital dollars.

In 2023 alone, notable developments include World Liberty Financial, linked to the Trump family, introducing the USD1 stablecoin, Stripe launching stablecoin-based accounts in over 100 countries, and Tether revealing plans for a regulatory-compliant token called USAT.

Despite the surge of new participants, the stablecoin market remains concentrated. Tether’s USDT commands approximately 60% of the market share, with around $186 billion in circulation, while Circle’s USDC holds about 25% with a market capitalization of $78 billion.

Collectively, these two stablecoins account for roughly 85% of the $310 billion global stablecoin market.