MoonPay and M0 have launched PYUSDx, a tokenization and issuance framework designed to support application-specific stablecoins backed by PayPal USD. The platform enables developers to create branded stablecoins anchored to PYUSD, which is issued by Paxos Trust Company, a federally regulated national banking association. PYUSDx aims to reduce technical complexity and accelerate deployment timelines for fintech builders seeking customized digital dollar solutions within specific ecosystems or protocols.
The platform integrates M0’s stablecoin infrastructure with MoonPay’s issuance and distribution capabilities, offering cross-chain compatibility, reserve transparency features, and interoperable liquidity access. According to the companies, the number of newly issued stablecoins exceeding $10 million in supply rose significantly in 2025, reflecting increasing demand for tailored digital assets. PYUSDx tokens are distinct from PayPal USD and are issued by MoonPay Digital Assets Limited, with regulatory treatment varying by jurisdiction. USD.ai is identified as the first developer utilizing the framework for AI infrastructure applications.
Why it matters
Application-layer stablecoin infrastructure may reshape digital payments, fintech integration, and programmable liquidity across blockchain ecosystems.
Source: MoonPay and M0
