MoonPay and M0 Launch Custom Stablecoin Platform PYUSDx
M0 and MoonPay have announced that their joint development platform PYUSDx has gone live. This platform, which was first unveiled in February, allows developers to create custom stablecoins backed by PayPal's USD (PYUSD).
According to the announcement, M0 built the technical foundation for the platform, while MoonPay is responsible for managing the underlying assets. The platform supports Ethereum Virtual Machine (EVM) compatible chains and enables token creators to set their own name, symbol, reward distribution method, and account freezing policies.
The platform has already seen three projects - Saturn, Concrete, and Cap - go live, with over $1 billion in transaction volume processed so far. Additionally, USD.AI and Fairblock are expected to launch on the platform by the end of the year.