Crypto payments company MoonPay has announced the launch of its enterprise stablecoin business, in conjunction with the integration of open-source stablecoin development technology company M0.
As part of the integration, MoonPay will be able to issue and manage fully reserved digital dollars across a number of blockchains, affording enterprises the tools to deploy interoperable, customised stablecoins at scale.
To lead the initiative, MoonPay has announced Zach Kwartler as head of stablecoins, joining the company from Paxos, where he built and scaled whitelabel stablecoin and crypto infrastructure products.
Derek Yu also joins the company, from Paxos, as Treasurer, a role which will have him overseeing cash, liquidity, and stablecoin operations.
Enterprise partners within key markets — including the US, Asia, and LatAm — will be targeted by MoonPay, with stablecoins issued through the company made available across its global distribution network.
Commenting on the partnership, Ivan Soto-Wright, CEO and co-founder of MoonPay, believes that “by combining verifiable technology with MoonPay’s trusted infrastructure, we’re making stablecoin issuance instant and accessible to every business on the planet”.
CEO and co-founder of M0, Luca Prosperi, adds: “By integrating with the M0 platform, MoonPay becomes a key provider of stablecoin infrastructure, spanning on/off ramps, payments, and now custom issuance.”
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