The stablecoin will integrate directly into Exodus Pay and focus on everyday consumer payments. The move comes amid a broader stablecoin “gold rush” driven by clearer US regulation after the passage of the GENIUS Act. At the same time, the FDIC proposed a framework that would allow regulated banks to issue payment stablecoins through subsidiaries, which could potentially accelerate institutional adoption and boost the dollar’s role at the center of the global stablecoin market.
Exodus Joins Stablecoin Race With MoonPay
Digital asset platform Exodus is preparing to enter the stablecoin market through a new partnership with crypto payments firm MoonPay. The Exodus Movement, which is best known for its self-custody crypto wallet, announced that it plans to launch a fully reserved, US dollar-backed stablecoin in early 2026. While the token has not yet been named, it will be issued and managed by MoonPay and built using the infrastructure of M0, a platform that enables companies to design, issue, and operate custom stablecoins.
The upcoming stablecoin is designed with everyday payments in mind rather than trading or speculative use. According to Exodus, the goal is to allow consumers to send and spend digital dollars without needing deep knowledge of blockchain technology. The stablecoin will integrate directly into Exodus Pay, which will allow users to transact while maintaining self-custody over their funds.
Exodus CEO and co-founder JP Richardson explained that while stablecoins are already becoming one of the simplest ways to move dollars on-chain, user experience is still a major barrier to wider adoption. He argued that for stablecoins to truly break into everyday payments, they must match the speed, simplicity, and reliability consumers expect from modern financial applications.
Announcement from Exodus
The partnership also sheds some light on the growing role of infrastructure providers like M0, which offers an open framework for enterprises looking for programmable and interoperable stablecoins tailored to specific products. M0 co-founder and CEO Luca Prosperi said that enterprises want stablecoins that are customized to their user experience rather than generic, one-size-fits-all digital dollars.
Exodus and MoonPay’s announcement comes amid what many people in the industry describe as a stablecoin gold rush. Regulatory clarity in the United States accelerated this trend, particularly after the passage of the GENIUS Act in July, which established a federal framework for fiat-backed stablecoins.
Since then, banks and crypto firms rushed to introduce their own products. The Trump family-backed DeFi platform World Liberty Financial launched its USD1 stablecoin in March, Stripe rolled out stablecoin-based accounts across more than 100 countries in May, and Tether announced plans for a regulatory-compliant stablecoin called USAT in September.
Despite this surge of new entrants, the stablecoin market is still heavily concentrated. Tether’s USDT dominates with roughly 60% market share, while Circle’s USDC holds around 25%.
FDIC Advances Bank Stablecoin Rules Under GENIUS Act
Meanwhile, the Federal Deposit Insurance Corp. is taking its first concrete steps toward implementing the stablecoin provisions of the US GENIUS Act, and promised a formal framework that would allow regulated banks to apply to issue payment stablecoins. The move is an early but important phase in translating the landmark legislation into enforceable rules, and it creates a clearer path for banks seeking to participate directly in the stablecoin market.
In a 38-page proposal that was published on the FDIC’s website, the agency shared how subsidiaries of FDIC-supervised banks could seek approval to issue payment stablecoins. Under the proposed framework, banks would not issue stablecoins directly from the insured institution itself but through a dedicated subsidiary. The FDIC would evaluate both the subsidiary and its parent bank, assessing whether they meet the requirements set out in the GENIUS Act. These include the issuer’s ability to maintain proper reserve backing, the overall financial condition of the institution, the quality of management, redemption and liquidity policies, and safety and soundness considerations.
(Source: LOFFA Interactive Group)
If a subsidiary is approved, the FDIC will act as its primary federal regulator for payment stablecoin activities, giving the agency a central oversight role. According to Bloomberg, the proposal is now subject to a public consultation period before it can advance in the rulemaking process.
The proposal stems from the GENIUS Act, short for Guiding and Establishing National Innovation for US Stablecoins, which passed the Senate in June and was signed into law by President Donald Trump. The legislation created a comprehensive regulatory framework for payment stablecoins, including strict requirements for one-to-one backing with US dollars or other approved high-quality liquid assets. Supporters of the law argue that it could strengthen US dollar liquidity and extend the dollar’s global influence through stablecoins.
Source: https://coinpaper.com/13158/exodus-partners-with-moon-pay-to-launch-new-dollar-stablecoin
