MoonPay Launches Enterprise Stablecoin Suite with M0 Integration

Crypto payment platform MoonPay has launched a new stablecoin suite that allows companies to issue and manage stablecoins across multiple blockchains, supported by an integration with M0.

The partnership offers companies a platform to launch and distribute their stablecoins at scale, MoonPay he said on Thursday The rollout marks MoonPay’s expansion from a fiat-to-crypto ramp to a full-stack stablecoin infrastructure, covering issuance, ramps, exchanges and payments.

“By integrating with the M0 platform, MoonPay becomes a key provider of stablecoin infrastructure, spanning on/off ramps, payments, and now custom issuance,” said Luca Prosperi, co-founder and CEO of M0, a platform that powers application-specific stablecoin builders.

The initiative will be led by Zach Kwartler, MoonPay’s new head of stablecoins, who previously helped build Paxos’ white-label stablecoin products, while former Paxos treasurer Derek Yu will oversee cash, liquidity and stablecoin operations.

Related: UK risks falling behind US, EU without stablecoin GBP: Fintech exec

Stablecoin infrastructure company

When MoonPay pivots into the stablecoin infrastructure space, it enters a crowded field. Since the passage of the United States GENIUS Act in July, the number of stablecoin issuers was growing and battling for market share.

In September, when the decentralized finance (DeFi) perpetual futures exchange Hyperliquid announced that it was looking for a issuer for a new native stablecoin (HYPE), proposals came from PaxosFrax Finance, Agora, Sky, OpenEden, Bitgo and Curve.

In the end, the the offer went to the Native Marketsa startup created by crypto investor Max Fiege, former president of Uniswap Labs Mary-Catherine Lader and researcher Anish Agnihotri, only for the purpose of issuing HYPE.

Another competitor to MoonPay is Fireblocks, which provides the tokenization and minting infrastructure that allows banks and fintechs to issue and manage their own. stablecoins.

In October, the company has expanded its institutional offering acquiring Dynamic, a provider of enterprise-focused portfolios.

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