Digital asset platform Exodus has partnered with cryptocurrency payment company MoonPay to launch a new stablecoin. This collaboration aims to expand payment options based on a digital dollar and is expected to launch in early 2026.
Exodus, a company known for its cryptocurrency wallets, plans to launch a 100% reserve stablecoin pegged 1:1 to the US dollar through this project. Issuance and management will be handled by MoonPay, and technically, it will utilize the stablecoin issuance infrastructure "M0". Exodus states that the stablecoin is designed to be easily used by non-crypto users without requiring specialized technical knowledge. In particular, users can use the payment function through "Exodus Pay" while maintaining self-custody of their assets.
Exodus co-founder and CEO JP Richardson stated, "Stablecoins have become the easiest way to hold and transfer US dollars on-chain, but their user experience still falls short of modern consumer applications."
MoonPay officially launched its enterprise-oriented stablecoin business last November. This business allows for the issuance and management of digital dollars across multiple blockchains within an environment integrated with M0. M0 co-founder Luca Prosperi emphasized, "Enterprises need programmable, interoperable stablecoins to customize their product experiences."
The US stablecoin market has become increasingly active this year. Following the passage of the GENIUS Act in July, banks and virtual asset companies have successively announced the launch of their own stablecoins. This act provides a clear federal regulatory framework for stablecoins pegged to the US dollar, acting as a catalyst for formal market participation.
In March, World Liberty Financial, a DeFi platform backed by President Trump's family, launched the USD1 stablecoin; in May, global payment platform Stripe began offering stablecoin-based accounts in more than 100 countries; and then in September, Tether announced the launch of a new product, USAT, which complies with US regulations, marking its entry into new markets.
Exodus-MoonPay stablecoin is now entering this fiercely competitive market. Currently, the stablecoin market is dominated by two core companies: Tether (USDT), with a market capitalization of approximately $186 billion (approximately 275.5944 trillion KRW), holding about 60% of the market share; and Circle's USDC, with a market capitalization of $78 billion (approximately 115.4712 trillion KRW), holding 25% of the market. These two stablecoins alone account for 85% of the entire $310 billion (approximately 459.824 trillion KRW) market.
🔎 Market Analysis
With the GENIUS Act triggering accelerated competition in the US stablecoin market, fintech, DeFi, and digital wallet companies are increasingly active in entering the market, in addition to existing large issuers. Exodus and MoonPay's new products aim to differentiate themselves through usability, emphasizing self-custody and convenient payment features.
💡 Strategic Highlights
- Focus on stablecoin promotion strategies targeting non-cryptocurrency users
- Utilize proprietary infrastructure (M0) to ensure issuance flexibility and scalability
- Exploring the possibility of a third force emerging in the duopoly of Tether and Circle.
📘 Terminology Explanation
Stablecoins: Cryptocurrencies pegged 1:1 to fiat currencies (primarily the US dollar) to mitigate price volatility.
- Self-management: A method where users manage their assets directly without going through a central authority.
- GENIUS Act: A federal law that clearly defines the regulatory standards for stablecoins in the United States.
TP AI Precautions
This article uses a language model based on TokenPost.ai to summarize the content. The main points of the text may be omitted or may differ from the facts.
