Digital asset platform Exodus has partnered with crypto payments firm MoonPay to roll out a US dollar-backed stablecoin designed for everyday use.
Key Takeaways:
Exodus and MoonPay plan to launch a fully reserved US dollar stablecoin for everyday payments in early 2026.
The stablecoin will power Exodus Pay, enabling global digital dollar spending with self-custody.
MoonPay and M0 will handle issuance and infrastructure.
The Exodus Movement, known for its self-custodial crypto wallet, said Tuesday that the fully reserved digital dollar is scheduled to launch in early 2026.
The asset will be issued and managed by MoonPay and built using M0, a stablecoin infrastructure platform that enables companies to create and operate custom fiat-backed tokens.
Exodus Pay to Bring Self-Custodial Digital Dollar Spending to Global Users
The yet-to-be-named stablecoin will be integrated into Exodus Pay, a forthcoming payments feature within the Exodus app.
The goal is to allow users to spend and send digital dollars globally while maintaining self-custody, without requiring technical knowledge of cryptocurrencies or blockchain networks.
“Stablecoins are quickly becoming the simplest way for people to hold and move dollars onchain, but the experience still needs to meet the expectations set by today’s consumer apps,” said JP Richardson, co-founder and CEO of Exodus.
He added that the project aims to make digital dollar payments as seamless as traditional financial apps, starting with Exodus Pay.
MoonPay will distribute the stablecoin across its global network, supporting buying, selling, swapping, deposits and checkout services.
BREAKING: the @exodus stablecoin is coming
issued and managed by MoonPay, in partnership with @m0 pic.twitter.com/ZMiKggzDQ8
— MoonPay 
(@moonpay) December 16, 2025
According to the companies, this broad integration is intended to give the digital dollar immediate real-world utility for consumers, merchants and partner applications.
The collaboration comes as MoonPay expands its enterprise stablecoin business, launched in November, which focuses on issuing and managing compliant digital dollars across multiple blockchains.
Its integration with M0 allows stablecoins to be programmable and interoperable while remaining tailored to specific product use cases.
“Enterprises want stablecoins that are programmable, interoperable and tailored to a specific product experience,” said Luca Prosperi, co-founder and CEO of M0.
“Our infrastructure is built to support that flexibility at scale.”
GENIUS Act Sparks Renewed Stablecoin Push Across Banks and Crypto Firms
The announcement lands amid a renewed surge of interest in stablecoins following the passage of the GENIUS Act in July, which established a federal regulatory framework for fiat-backed stablecoins in the US.
Since then, banks and crypto firms alike have accelerated their efforts to launch proprietary digital dollars.
This year alone has seen the Trump family-linked World Liberty Financial introduce the USD1 stablecoin, Stripe roll out stablecoin-based accounts in more than 100 countries, and Tether announce plans for a regulatory-compliant token dubbed USAT.
Despite the influx of new entrants, the market remains heavily concentrated. Tether’s USDT dominates with roughly 60% market share and about $186 billion in circulation, while Circle’s USDC holds around 25% with a market capitalization of $78 billion.
Together, the two account for roughly 85% of the $310 billion global stablecoin market.
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