MoonPay and Exodus Offer XO Cash Signing Bonuses to X Games Athletes
MoonPay and Exodus Movement announced that athletes selected in the X Games inaugural Summer Draft will receive signing bonuses paid in XO Cash, Exodus' new USD-backed stablecoin. 40 drafted athletes will each receive $2,500 in XO Cash 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.
