MoonPay and M0 launch PYUSDx, enabling developers to create app-specific stablecoins backed 1:1 by PayPal USD.

MoonPay and stablecoin platform M0 have launched PYUSDx, an infrastructure framework that lets developers issue their own branded, application‑specific stablecoins fully backed 1:1 by PayPal USD (PYUSD). PYUSD itself continues to be issued by Paxos Trust Company as a regulated U.S. dollar stablecoin, while PYUSDx tokens are separate assets created through MoonPay’s tokenization and issuance framework and collateralized with PYUSD held in reserve. The initiative was announced jointly by MoonPay, M0 and PayPal, positioning PYUSDx as a “stablecoin-in-a-box” stack for apps that want dollar tokens without building regulatory, custody, and liquidity infrastructure from scratch. PYUSDx combines three roles: PYUSD as the regulated reserve asset, M0’s universal stablecoin/digital token platform for programmability and cross‑chain interoperability, and MoonPay’s issuance and distribution rails for onboarding, compliance, and settlement. The framework is aimed at developers who want app‑specific stablecoins (for example, for payments, loyalty, in‑app economies, or sector‑focused use cases like AI infrastructure) with their own branding and economics, but with backing from an established, regulated stablecoin and on‑chain reserve transparency. The companies emphasize faster time‑to‑market (days instead of months), cross‑chain support via M0’s ecosystem, and flexible economic terms compared to building a new stablecoin or integrating directly with existing ones. According to the launch materials, PYUSDx tokens are not the same as PayPal’s native PYUSD and are not supported in PayPal or Venmo wallets; instead, they sit on top of PYUSD as a composable infrastructure layer. The model reflects a broader trend of “application‑layer stablecoins,” where regulated base stablecoins serve as collateral for customized tokens tailored to specific platforms or verticals, potentially expanding PYUSD’s footprint in Web3 and payments without PayPal itself managing thousands of separate tokens. Early coverage notes USD.ai as one of the first projects building on PYUSDx, using it to create an AI‑focused stablecoin, illustrating how the framework targets niche and verticalized dollar tokens. "entities":["MoonPay","MoonPay Digital Assets Limited","M0","PayPal","PayPal USD","PYUSD","PYUSDx","Paxos Trust Company, N.A.","USD.ai"]}`

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• MoonPay, M0 and PayPal Announce PYUSDx (moonpay.com)
• MoonPay, M0 and PayPal Announce PYUSDx: The Infrastructure ... (prnewswire.com)
• PayPal, MoonPay & M0 Launch PYUSDx — A 'Stablecoin-in-a-Box ... (blockster.com)
• PayPal launches PYUSD-backed stablecoin issuance platform (crypto.news)
• MoonPay, M0 and PayPal launch PYUSDx platform for application ... (app.dealroom.co)

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