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Exodus joins stablecoin race with MoonPay-backed digital dollar
The public crypto wallet firm joins Circle and PayPal in issuing stablecoins.
Updated Dec 16, 2025, 9:33 p.m. Published Dec 16, 2025, 9:25 p.m.
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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.
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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.
“Stablecoins are quickly becoming the simplest way for people to hold and move dollars onchain,” said JP Richardson, co-founder and CEO at Exodus. “But the experience still needs to meet the expectations set by today’s consumer apps.”
In practice, this could look like a user sending money internationally or buying coffee using a stablecoin inside the Exodus app, without needing to touch a centralized exchange or manage complex wallet settings.
MoonPay, which launched its enterprise stablecoin platform in November, said the Exodus deal demonstrates how branded digital dollars can be embedded into consumer-facing financial tools.
“This launch shows what’s possible when a consumer-first product integrates compliant stablecoin issuance with infrastructure and distribution that can operate at global scale,” said MoonPay CEO Ivan Soto-Wright.
The Exodus stablecoin will be accessible through MoonPay’s global network, including its buy, sell, and swap tools. Rollout will depend on regulatory approval in various markets.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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