PayPal launches PYUSDx custom stablecoin issuance platform

PayPal has launched PYUSDx, a developer platform that lets businesses create their own custom stablecoins backed by PayPal USD (PYUSD), built with help from M0 and MoonPay. The platform extends PayPal's stablecoin infrastructure beyond its own PYUSD token, allowing third parties to issue branded stablecoins on PayPal's rails.

• Lets developers issue custom stablecoins collateralized by PYUSD.
• Built in partnership with M0 and MoonPay.
• No launch timeline or initial issuers were disclosed.