The Conversation (0)
The inaugural MoonPay XGL Summer Draft will award 40 athletes signing bonuses in Exodus' new XO Cash stablecoin.
- MoonPay, Title Partner of the newly formed MoonPay X Games League (XGL), and Exodus Movement, Inc. (NYSE American: EXOD) ("Exodus") today announced that athletes selected in the X Games inaugural Summer Draft will receive signing bonuses paid in XO Cash ($XO), Exodus' new USD-backed stablecoin.
40 drafted athletes will each receive $2,500 in XO Cash ($XO) instantly deposited into their Exodus Wallets, in one of the earliest instances of professional athletes being awarded signing bonuses in stablecoins.
XO Cash is a fully reserved, USD-backed stablecoin issued and managed by MoonPay and built on M0's open stablecoin infrastructure. The stablecoin will also serve as a liquidity layer for Exodus Pay, a self-custodial payments platform set to launch in Q2 which will allow users the ability to make instant payments, spend with a card, earn rewards, and access everyday money tools.
In addition to their signing bonuses, athletes will receive a custom MoonPay XGL Exodus Card connected directly to their Exodus accounts, giving them immediate access to their funds to spend anywhere in the world.
"We're giving athletes greater flexibility in how they receive and manage their money," said JP Richardson, CEO and Co-Founder of Exodus. "Athletes have global careers and they need payments that work across borders just like they do. By awarding signing bonuses in a form athletes can receive instantly and hold in their own wallets, we're creating a modern approach to compensation built for speed and ownership from day one."
The MoonPay X Games League is a new chapter for action sports, transforming the X Games from standalone competitions into a global, co-ed, team-based league featuring athlete salaries, benefits, and season-long competition. The Summer Draft introduces structured compensation and expanded financial opportunities as part of that evolution.
"We partnered with the X Games because they're doing to sports what crypto is doing to finance: challenging legacy systems and building something entirely new," said Ivan Soto-Wright, CEO and Founder of MoonPay. "The future of money is crypto. It's only natural that one of the most forward-thinking leagues in the world is embracing digital assets as part of how athletes are rewarded."
The initiative highlights the growing convergence of digital assets and athlete compensation. Earlier this year at the X Games Aspen, MoonPay matched Mark McMorris' Men's Slopestyle gold medal winnings in crypto, making him the first X Games athlete to receive prize money in digital assets. The Summer Draft initiative builds on that effort and extends MoonPay's commitment to modernizing athlete compensation.
The inaugural MoonPay X Games League Summer Draft will take place today, March 12, 2026.
About X Games
Since 1995, X Games has defined action sports—from Tony Hawk's 900 to Shaun White's halfpipe dominance to the rise of BMX and skateboarding as global forces. Over 30 years, it has become more than a competition: it's a cultural touchstone, blending sports, music, fashion, and community. For more information, visit www.xgames.com, or follow @xgames on TikTok, X, Instagram or Facebook.
About Exodus
Exodus is a financial technology leader empowering individuals and businesses with secure, user-friendly crypto software solutions. Since 2015, Exodus has made digital assets accessible to everyone through its multi-asset crypto wallets prioritizing design and ease of use.
Exodus places its users in full control of their funds through self-custodial wallets, enabling them to send, receive, and store crypto. Products like XO Swap and Exodus Pay connect users directly with industry-leading third-party service providers for seamless token swaps, and will soon extend to cutting-edge stablecoin-based payments through an upcoming consumer card experience.
Exodus is committed to driving the future of accessible and secure finance. Learn more at exodus.com or follow us on X at x.com/exodus.
About MoonPay
Founded in 2019, MoonPay is a global financial technology company that helps businesses and consumers move value across fiat and digital assets. MoonPay has more than 30 million customers across 180 countries and supports more than 500 enterprise customers spanning crypto and fintech.
Through a single integration, MoonPay powers on- and off-ramps, trading, crypto payments, and stablecoin infrastructure, connecting traditional payment rails with blockchains. MoonPay maintains a broad regulatory footprint, including a New York BitLicense, a New York Trust Charter, and money transmitter licenses across the United States, as well as MiCA authorization in the EU.
MoonPay is how the world moves value.
For media enquiries, contact:
View original content to download multimedia:https://www.prnewswire.com/news-releases/exodus-brings-crypto-signing-bonuses-to-moonpay-x-games-league-summer-draft-302712394.html
SOURCE MoonPay
