Frontier AdoptionEvidence-graded tracking of what's actually live

Deployments · platform by MoonPay

MoonPay enterprise stablecoin issuance platformNew

MoonPay's business issuing and managing fully reserved, white-label stablecoins for partners across multiple blockchains, built on M0's open stablecoin infrastructure and distributed through MoonPay's buy, sell, swap, deposit and checkout products. Zach Kwartler, formerly of Paxos, leads it as Head of Stablecoins. First publicly named stablecoin: XO Cash, launched with wallet provider Exodus in December 2025. MoonPay and M0 later announced PYUSDx, a framework with PayPal for developers to issue PYUSD-backed application-specific stablecoins, and a partnership with payroll platform Deel for cross-border stablecoin payroll.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 12 Nov 2025[1] — Launch of the platform and leadership; XO Cash (with Exodus) is the only named live stablecoin issued on it by November 2026. PYUSDx and the Deel payroll tie-up are announced, not yet evidenced live. · Reviewed today

Assets
Stablecoin[1]
White-label, fully reserved stablecoins issued for partners on M0's infrastructure; XO Cash (with Exodus) is the first named one.
Networks
Unknown ledger Not disclosed[1]
MoonPay's launch release names only 'multiple blockchains', none specifically.
Use cases
Primary issuance[2]Payouts[3]
Jurisdictions
Global

Participants

Timeline

  1. Happened 27 Feb 2026 · Announcement · recorded 8 Nov 2026
    MoonPay, PayPal and M0 announce PYUSDx, a framework for developers to issue PYUSD-backed application-specific stablecoins, including programmable loyalty rewards.[3]
  2. Happened Feb 2026 (month only) · Announcement · recorded 8 Nov 2026
    MoonPay announces a partnership with payroll platform Deel to enable cross-border payroll through stablecoins.[3]
  3. Happened 17 Dec 2025 · Scope expansion · recorded 8 Nov 2026
    MoonPay, M0 and wallet provider Exodus launch XO Cash, a digital dollar for everyday payments.[2]
  4. Happened 12 Nov 2025 · Launch · recorded 8 Nov 2026
    MoonPay launches an enterprise stablecoin business integrated with M0, appointing Zach Kwartler (ex-Paxos) as Head of Stablecoins.[1]

Sources

  1. [1]MoonPay Launches Enterprise Stablecoin Services — MoonPay, 12 Nov 2025. Accessed 8 Nov 2026.B
  2. [2]Exodus, MoonPay & M0 Unveil a New Digital Dollar for Everyday Payments — Barchart (carrying a press release), 17 Dec 2025. Accessed 8 Nov 2026.C
  3. [3]MoonPay executive discusses loyalty rewards for branded stablecoins — Cryptonews. Accessed 8 Nov 2026.C

Spotted something out of date or missing? Suggest a correction, ideally with a source.