PayPal, MoonPay, and M0 unveil PYUSDx for custom stablecoins

PayPal, MoonPay, and M0 launched PYUSDx, enabling fast creation of custom stablecoins backed by PayPal USD, streamlining issuance and integration for developers.

PayPal, MoonPay, and M0 have jointly introduced PYUSDx, a new stablecoin tokenization and issuance framework. This platform allows developers to create application-specific stablecoins, each backed 1:1 by PayPal USD (PYUSD). By streamlining the process of issuing, distributing, and integrating stablecoins, PYUSDx reduces development timelines from months to just days. The framework supports multichain compatibility, ensures reserve transparency, and enables the creation of custom-branded tokens. These features address the rising demand for tailored digital assets in the evolving stablecoin sector. USD.ai is the first project to utilize PYUSDx, highlighting growing competition in the market. The launch has been well received, with PayPal’s stock price seeing an uptick. Commercial deployment is set for next month, marking a significant step in expanding stablecoin adoption and simplifying developer access.