PayPal Launches PYUSDx for Business Stablecoin Issuance

PayPal has launched PYUSDx, a platform designed to allow businesses create custom stablecoins backed by PayPal USD (PYUSD), expanding its efforts to build infrastructure around dollar-denominated digital assets.

The US-based payments company developed PYUSDx in partnership with M0 and MoonPay. The platform combines M0's stablecoin and token infrastructure with MoonPay's capabilities for issuance and distribution, providing participating businesses with infrastructure for bringing their stablecoins into operation.

At launch, PYUSDx is supporting stablecoins issued by three crypto-focused companies: Saturn, Concrete, and Cap. These companies have collectively processed more than $100 million in volume through the platform, according to the companies involved.

The model gives companies access to infrastructure linked to PYUSD rather than requiring each issuer to establish an independent stablecoin framework from the ground up.