Key Insights
- Exodus and MoonPay are set to release a fully reserved dollar stablecoin in early 2026.
- The stablecoin will support daily payments while users keep full self-custody
- The introduction follows as the regulation of stablecoins becomes more restrictive and large issuers gain control over the market.
Digital asset platform Exodus has confirmed plans to introduce a fully reserved, U.S. dollar-backed stablecoin in partnership with payments firm MoonPay, with a targeted launch in early 2026.
The initiative is designed to support everyday payments while allowing users to retain self-custody of their funds inside the Exodus ecosystem.
The new stablecoin, which has not been named, aims to accelerate digital dollar transactions for consumers without requiring prior knowledge of cryptocurrency.
The stablecoin will be issued and managed by MoonPay, built using M0, a stablecoin infrastructure platform that enables companies to create and operate customized digital dollars.
According to the firms, the asset will integrate directly into Exodus Pay, an upcoming payments feature designed to simplify on-chain dollar use without requiring users to understand cryptocurrency mechanics.
Stablecoin Designed for Simple On-chain Spending
In an announcement made on Tuesday, Exodus stated that the planned digital dollar will allow users to spend and send money through a familiar app-based experience while maintaining control of their assets.
https://twitter.com/moonpay/status/2001041416160510400
JP Richardson, co-founder and Chief Executive Officer of Exodus, said stablecoins are becoming a practical way to move dollars on-chain.
The companies stated that this approach is designed to provide immediate real-world utility for consumers, merchants, and partner applications once the asset goes live.
MoonPay expands enterprise stablecoin operations.
The collaboration builds on MoonPay’s enterprise stablecoin business, launched in November, which focuses on issuing and managing approved digital dollars across multiple blockchain networks. Integration with M0 allows the stablecoin to remain programmable and interoperable while being tailored to a specific product environment.
M0 co-founder and Chief Executive Officer Luca Prosperi said enterprises are increasingly seeking stablecoins designed for specific use cases, rather than generic payment tokens. M0’s infrastructure is built to support customisation at scale while maintaining operational controls.
Entering a crowded and regulated market
The Exodus and MoonPay project arrives as interest in stablecoins accelerates following the passage of the GENIUS Act in July, which established a federal framework for fiat-backed stablecoins in the United States.
The market of stablecoins is very concentrated, despite the increase in activity. Tether is estimated to control approximately 60% of the total supply and has a circulation of around $186 billion. Circle USDC has approximately 25% of the market capitalisation, valued at around $78 billion.
Together, the two issuers have approximately 85% of the global stablecoin market, surpassing over $ 310 billion, according to CoinGecko.
