Exodus joins stablecoin race with MoonPay-backed digital dollar
The public crypto wallet firm joins Circle and PayPal in issuing stablecoins.
What to know:
Exodus is launching a fully reserved, USD-backed stablecoin with MoonPay to power self-custodial payments in its crypto wallet app.
The stablecoin will support Exodus Pay, a new feature enabling users to spend and send digital dollars without relying on centralized exchanges.
With the launch, Exodus joins a short list of public companies, including PayPal and Circle, backing stablecoin products.
Crypto wallet provider Exodus (EXOD) is entering the stablecoin market with the launch of a fully reserved, USD-backed stablecoin in partnership with fintech firm MoonPay.
MoonPay will issue and manage the stablecoin, with support from stablecoin infrastructure provider M0. The token is expected to go live in January 2026, with network and product details to follow.
The move places Exodus among a small group of public companies behind stablecoin products, including Circle (USDC), PayPal (PYUSD) and Fiserv (FIUSD).
The Exodus stablecoin is central to its upcoming product, Exodus Pay, which aims to offer everyday payments in crypto without sacrificing self-custody. Users will be able to spend and send the digital dollar through the Exodus app while earning rewards and avoiding the complexity of typical crypto transactions.
