PayPal broadens stablecoin reach through PYUSDx platform
PayPal has extended the reach of its dollar-backed stablecoin into custom token issuance, with the PYUSDx developer platform now supporting three live projects and more than $100 million in processed volume. PYUSDx allows businesses and developers to create their own branded onchain tokens while using PayPal USD, or PYUSD, as the economic foundation. M0 built the platform’s programmable…
PayPal has expanded its dollar-backed stablecoin, PYUSD, by launching the PYUSDx developer platform. This platform supports the creation of custom branded onchain tokens while utilizing PYUSD as the economic foundation. M0 developed the platform's programmable infrastructure, with MoonPay Digital Assets Limited managing issuance and reserves.
The platform's first three live projects, Saturn, Concrete, and Cap, have processed over $100 million in volume. Two more projects, USD.AI and Fairblock, are expected to join, broadening applications built around PYUSD. PYUSDx allows developers to customize token names, symbols, reward distribution, administrative controls, and cross-chain behavior.
It also provides native liquidity links to PYUSD and USDC, eliminating the need for developers to establish separate liquidity markets. PYUSD itself is issued by Paxos Trust Company, and PYUSDx tokens are not issued by PayPal or Paxos. This initiative represents a shift in PayPal's stablecoin strategy, moving from supplying a digital dollar primarily for payments to providing infrastructure for customized token issuance.
Stablecoins have become significant settlement assets in cryptocurrency markets and are being explored for payments, treasury management, and cross-border transfers.
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