Professional action sports enter a new era of digital payouts as the xo cash stablecoin becomes the centerpiece of athlete compensation at the MoonPay X Games League.
MoonPay and Exodus launch XO Cash bonuses for drafted athletes
MoonPay and Exodus have unveiled a crypto-driven compensation model for the inaugural MoonPay XGL Summer Draft, held on March 12, 2026 in Omaha, Nebraska. Each of the 40 drafted athletes will receive a signing bonus of $2,500 in XO Cash ($XO), instantly deposited into their Exodus Wallets.
This marks one of the earliest examples of professional athletes receiving signing bonuses in stablecoins, directly to a self-custodial wallet. Moreover, the initiative positions MoonPay and Exodus at the intersection of digital assets, sports, and global payments.
XO Cash: USD-backed stablecoin powering Exodus Pay
XO Cash is described as a fully reserved, USD-backed stablecoin issued and managed by MoonPay, and built on M0‘s open stablecoin infrastructure. The asset is designed not only as a digital payout instrument for athletes, but also as a core liquidity layer for Exodus Pay.
Exodus Pay is a self-custodial payments platform scheduled to launch in Q2. It will allow users to make instant payments, spend with a card, earn rewards, and access everyday money tools using XO Cash and other digital assets. That said, the stablecoin’s reserved structure aims to combine speed with reliability for both athletes and everyday users.
Immediate card access and global spending
Alongside their signing bonuses, athletes will receive a custom MoonPay XGL Exodus Card linked directly to their Exodus accounts. This integration provides immediate access to their funds, enabling them to spend anywhere in the world where the card is accepted.
However, the card is more than a simple spending tool. By connecting to a self-custodial wallet, it lets athletes retain ownership of their digital assets while still accessing traditional payment rails, effectively bridging the crypto and fiat ecosystems.
Athlete-focused vision for cross-border crypto payments
“We are giving athletes greater flexibility in how they receive and manage their money,” said JP Richardson, CEO and Co-Founder of Exodus. He emphasized that many athletes have global careers and therefore require payment solutions that work seamlessly across borders.
According to Richardson, delivering signing bonuses in a format athletes can receive instantly and hold in their own wallets represents a modern approach to compensation. Moreover, building this model on self-custody and instant settlement aligns with the broader shift toward user-controlled finance.
From X Games events to a global team-based league
The MoonPay X Games League (XGL) represents a structural evolution of the X Games brand. It transforms what were previously standalone competitions into a global, co-ed, team-based league, complete with athlete salaries, benefits, and season-long competition.
The Summer Draft formalizes a more structured compensation approach for XGL athletes, combining traditional salary frameworks with crypto-based bonuses. That said, the initiative goes beyond simple marketing, as it directly embeds digital asset payments into the league’s financial architecture.
MoonPay’s strategy to modernize athlete compensation
“We partnered with the X Games because they are 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. He added that the future of money is crypto, making it natural for a forward-thinking league to embrace digital assets in athlete rewards.
The move builds on an earlier initiative at X Games Aspen. There, 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. Moreover, the Summer Draft program extends this experiment from one-off rewards to a more systematic model.
Digital assets meet sports: a broader convergence
The rollout of the xo cash stablecoin for athlete bonuses highlights the growing convergence between digital assets and professional sports compensation. As leagues and sponsors test crypto-native payout structures, athletes gain faster settlement, global portability, and self-custodial control over their earnings.
However, the initiative also underscores the importance of robust infrastructure. With MoonPay providing issuance and stablecoin rails, and Exodus delivering wallet and payments tooling, the collaboration offers a full-stack model that other sports organizations may look to replicate.
About X Games
Since 1995, X Games has defined action sports, from Tony Hawk’s legendary 900 to Shaun White’s halfpipe dominance, as well as the global rise of BMX and skateboarding. Over three decades, the brand has grown into a cultural touchstone, blending sports, music, fashion, and community.
The evolution into the MoonPay X Games League continues that legacy by introducing long-term team structures and more predictable income models for athletes. For more information, visit www.xgames.com.
About Exodus
Exodus is a financial technology company focused on secure, user-friendly crypto software for individuals and businesses. Since 2015, it has worked to make digital assets more accessible through multi-asset crypto wallets that prioritize design and ease of use.
The company enables users to send, receive, and store crypto via self-custodial wallets, giving them full control of their funds. Moreover, products like XO Swap and Exodus Pay connect users to third-party service providers for seamless token swaps and, soon, stablecoin-powered payments through an upcoming consumer card experience.
Exodus maintains a strong commitment to accessible and secure finance across web and mobile platforms. More details are available at exodus.com and on X at x.com/exodus.
About MoonPay
MoonPay, founded in 2019, is a global financial technology firm that helps businesses and consumers move value across fiat and digital assets. The company serves more than 30 million customers in 180 countries and supports over 500 enterprise customers across crypto and fintech.
Through a single integration, MoonPay powers on- and off-ramps, trading, crypto payments, and stablecoin infrastructure, connecting traditional payment systems with blockchains. Additionally, it operates under a broad regulatory framework, including a New York BitLicense, a New York Trust Charter, U.S. money transmitter licenses, and MiCA authorization in the EU.
MoonPay positions itself as a key bridge for how the world moves value, from consumers to enterprises. For media enquiries, contact [email protected].
In summary, the MoonPay XGL Summer Draft’s use of XO Cash for athlete bonuses showcases a practical, real-world application of stablecoins in sports, blending instant global payouts with self-custodial control and a growing ecosystem of payment tools.
