Crypto is making its way into professional sports in a new way. Athletes selected in the inaugural MoonPay X Games League (XGL) Summer Draft will receive signing bonuses paid in XO Cash ($XO) — a new USD-backed stablecoin from Exodus.
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The initiative marks one of the earliest examples of professional athletes receiving signing bonuses in stablecoins, highlighting the growing intersection between digital assets and athlete compensation.
Stablecoin Bonuses for Drafted Athletes
Under the program, 40 drafted athletes will each receive $2,500 in XO Cash, instantly deposited into their Exodus Wallets. XO Cash is a fully reserved USD-backed stablecoin issued and managed by MoonPay and built on M0’s open stablecoin infrastructure.
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Alongside the signing bonus, athletes will also receive a custom MoonPay XGL Exodus Card, connected directly to their Exodus accounts, allowing them to spend their funds anywhere in the world.
JP Richardson, CEO and Co-Founder of Exodus, said the move reflects how athletes increasingly need global payment tools.
“We’re giving athletes greater flexibility in how they receive and manage their money,” Richardson said. “Athletes have global careers and they need payments that work across borders just like they do.”
A New Era for the X Games
The signing bonuses are part of the launch of the MoonPay X Games League, a new format designed to transform the X Games from standalone competitions into a team-based global league.
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The league introduces structured salaries, benefits, and season-long competition for athletes — bringing a more traditional sports league model to action sports. The Summer Draft, taking place March 12, 2026, is the first step in that transition.
Ivan Soto-Wright, CEO and Founder of MoonPay, said the partnership reflects the shared spirit of innovation between crypto and action sports.
“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,” he said.
Building Payments on Stablecoin Infrastructure
XO Cash will also serve as a liquidity layer for Exodus Pay, a self-custodial payments platform expected to launch in Q2.
The platform aims to enable users to send instant payments, spend funds with a card, earn rewards, and access everyday financial tools while maintaining control of their assets through self-custody.
The athlete signing bonuses represent an early real-world use case for that system.
Crypto and Sports Continue to Converge
Earlier this year at X Games Aspen, MoonPay matched snowboarder Mark McMorris’ gold medal winnings in crypto, making him the first X Games athlete to receive prize money in digital assets.
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The Summer Draft initiative builds on that experiment — pushing crypto further into the financial infrastructure behind professional sports.
As digital assets continue to move into real-world payments, initiatives like this could signal how stablecoins and self-custodial wallets may eventually reshape how athletes are paid and manage their earnings globally.
