PayPal's PYUSDx Custom Stablecoin Platform Launches with $100 Million in Processed Volume

PayPal has launched its PYUSDx custom stablecoin platform in collaboration with M0 and MoonPay. The launch marks a milestone, with three active projects on the platform having collectively processed more than $100 million.

PYUSDx allows businesses to issue application-specific stablecoins backed by PayPal USD. Companies can give their tokens separate names and configure access restrictions, reward distribution, collateral policies, and cross-chain availability.

The partners initially announced the framework in February. M0 developed the programmable token infrastructure used by PYUSDx, while MoonPay contributes issuance, onboarding, and distribution services. PayPal supplies the ecosystem connection through $PYUSD.

Regulatory treatment may vary between jurisdictions and applications. A token used for lending, rewards, or restricted settlement could face different rules from a stablecoin used mainly for payments.