Exodus has partnered with MoonPay to introduce a USD-backed stablecoin tailored for everyday transactions. This integration will be part of Exodus Pay, supporting self-custodial transactions.

The announcement from Exodus, known for its crypto wallet, revealed that the fully reserved dollar stablecoin is set for launch in early 2026. MoonPay, a prominent crypto payments provider, will issue and manage the stablecoin using M0 – a robust infrastructure platform that aids companies in the creation and management of custom stablecoins.

This unnamed stablecoin aims to facilitate straightforward digital dollar transactions without needing users to understand cryptocurrency intricacies. It will allow Exodus Pay users to send and spend money while retaining their assets securely.

“Stablecoins are quickly becoming the simplest way for people to hold and move dollars on-chain, but the experience still needs to meet the expectations set by today’s consumer apps,” said JP Richardson, co-founder and CEO of Exodus.

The Stablecoin Surge Continues

MoonPay launched its enterprise stablecoin business in November to manage and issue digital dollars across diverse blockchains via M0’s open framework.

“Enterprises seek stablecoins that are programmable, interoperable, and customized for specific product experiences,” stated Luca Prosperi, co-founder and CEO of M0.

Related: US banks could soon issue stablecoins under the FDIC plan to implement the GENIUS Act

The push for stablecoins accelerated this year, with many banks and crypto companies racing to launch their own, spurred by the GENIUS Act of July. This legislation provided a defined federal regulatory framework for fiat-backed stablecoins in the U.S.

In March, World Liberty Financial, linked to the Trump family, introduced the USD1 stablecoin, while Stripe unveiled stablecoin-based accounts to its global clients in May. Moreover, Tether announced a regulatory-compliant stablecoin, called USAT, in September.

Leading Players in the Stablecoin Market

The stablecoin market, now crowded, is still primarily influenced by two main competitors. Tether (USDT) holds approximately 60% of the market share, equating to a circulating supply of $186 billion, while Circle’s USDC follows at 25%, with a market cap of $78 billion. Together, these two account for 85% of the combined stablecoin market capitalization, which exceeds $310 billion according to CoinGecko.

USDT and USDC still dominate stablecoin markets. Source: RWA.xyz

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