Branded Stablecoins Could Become Loyalty Rewards Tools

MoonPay executive Caroline Pham predicts companies will issue their own stablecoins that customers earn through purchases.

Updated on Nov. 7, 2026 in Couponing

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In a January 13, 2026 podcast interview, Caroline Pham, MoonPay's Chief Legal Officer and Chief Administrative Officer, predicted branded stablecoins will work as loyalty and rewards vehicles for onchain commerce. Pham previously served as acting chair of the Commodity Futures Trading Commission.

Why it matters

Pham's prediction points to a possible new model for consumer rewards that would live onchain and move across merchant platforms. Her move from federal regulator to MoonPay comes as stablecoin legislation advances in Congress.

MoonPay reports an enterprise network of more than 30 million users and over 500 enterprise partners, while the stablecoin market was valued at about $320 billion by early 2026. The source does not indicate how many brands have announced plans to issue branded stablecoins.

The players

MoonPay

MoonPay is a crypto payments company that provides onchain payment and stablecoin infrastructure for businesses and consumers.

Caroline Pham

Caroline Pham previously served as acting chair of the Commodity Futures Trading Commission before joining MoonPay in December 2025.

The details

Pham said brands would issue their own stablecoins and customers would earn them through purchases. Because these tokens would live onchain, they could be programmed with conditions such as double rewards in specific categories or expiration if unused within a quarter.

November 2025: MoonPay integrated with M0 to enable customized stablecoin issuance.
December 2025: Caroline Pham joined MoonPay as Chief Legal Officer and Chief Administrative Officer.
January 13, 2026: Pham made the branded stablecoin prediction in a podcast interview.

Culture Shift

MoonPay's November 2025 integration with M0 for customized stablecoin issuance is the infrastructure that would let brands create their own tokens for rewards. Pham's prediction extends that infrastructure toward consumer loyalty programs that could replace traditional points systems.

If branded stablecoin rewards become common, shoppers could earn tokens on everyday purchases that carry conditions like category bonuses or expiration dates. Readers would need to track how and when those rewards expire to get full value from them.

The takeaway

Rewards programs may increasingly move onchain, so shoppers should watch for expiration terms and category conditions on any stablecoin-based points they earn. Reading the fine print on programmable rewards will matter as these programs develop.