In a significant advancement for developers in the cryptocurrency space, MoonPay and M0 have unveiled PYUSDx, a new platform tailored for the creation of application-specific stablecoins backed by PayPal USD (PYUSD). This innovative offering aims to streamline the process for builders looking to launch unique stablecoins, dramatically reducing the time and complexity involved.
As the demand for stablecoins continues to surge, especially those tailored for specific ecosystems and business models, the PYUSD system seeks to capitalize on this growth. According to recent data, the issuance of stablecoins with a supply exceeding $10 million rose by 89% in 2025. Recognizing the challenges faced by developers in this rapidly evolving market, the PYUSDx platform promises to fill a vital gap by providing the necessary infrastructure to swiftly bring stablecoins to market.
Ivan Soto-Wright, CEO and co-founder of MoonPay, highlighted the platform’s role in enhancing the accessibility of PYUSD for developers. He stated, “Building and managing stablecoins at the application layer requires dependable infrastructure.” With PYUSDx, MoonPay expands its capabilities, making it easier for developers to create their own application-specific stablecoins while minimizing the need for extensive technical overhead.
The PYUSDx framework not only facilitates rapid deployment but also ensures that developers can leverage the credibility and compliance of the PayPal USD, which is issued by Paxos Trust Company, NA. This partnership marks a crucial collaboration between industry leaders, embedding a regulated and trusted foundation under the innovative approaches of developers.
Luca Prosperi, CEO of M0, noted the significance of the platform for fintech developers, stating, “PYUSDx will allow developers to iterate much more quickly within an interoperable solution and with built-in liquidity.” The aim is to enable developers to focus on building differentiated experiences without the burden of creating robust monetary infrastructure from scratch.
May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal, expressed enthusiasm for the collaboration: “We’re excited to see MoonPay and M0 use PYUSDx to help bring new, application-specific stablecoins to market.” This move reflects a broader trend towards adoption at the application layer, where developers increasingly seek to create unique offerings.
The features of PYUSDx include branded stablecoins backed by PayPal USD, rapid time-to-market capabilities, cross-chain compatibility to enhance interoperability across various blockchain networks, on-chain reporting for reserve transparency, and competitive economics designed to provide greater flexibility compared to existing stablecoin-backed products.
One of the first developers to utilize the PYUSDx platform is USD.ai, which is working on creating a stablecoin specifically for AI infrastructure. This initiative represents just the beginning of the potential applications for PYUSDx, as it opens the door for more developers to explore creating their own bespoke financial solutions.
It’s important to clarify that PYUSDx tokens are independent of PayPal USD issued by Paxos Trust Company and are not a product or service of PayPal. The regulatory landscape for these tokens will vary by jurisdiction, placing the responsibility for compliance with the issuers.
In summary, the introduction of PYUSDx by MoonPay and M0 marks a pivotal moment in the evolution of stablecoins, providing developers with the tools they need to bring innovative financial solutions to life while navigating the complexities of regulatory and operational challenges.
