An infrastructure solution for creating application-specific stablecoins backed by PayPal USD (PYUSD) is now available. The platform enables developers to launch their own stablecoins in just a few days.
M0 and MoonPay introduced PYUSDx, a platform for issuing stablecoins pegged to PYUSD. The solution is designed for developers building financial and crypto services, allowing them to significantly reduce technical and operational costs when launching their own digital assets.
PYUSDx combines M0’s technology for working with universal stablecoins and MoonPay’s issuance and distribution infrastructure. Developers are offered the following capabilities:
- issuing branded stablecoins backed by PYUSD;
- launching projects within a few days;
- compatibility with multiple blockchains;
- on-chain reporting and reserve transparency;
- flexible economic models compared to alternative solutions.
The first project using the new platform is USD.ai, which is creating an application-specific stablecoin for AI infrastructure.
The press release emphasizes that tokens issued via PYUSDx aren’t PayPal USD, aren’t PayPal products, and aren’t supported in PayPal or Venmo accounts for storing, sending, or receiving funds. The legal framework and licensing of such tokens depend on the jurisdiction and fall under the responsibility of the issuer.
The release also notes that in 2025, the number of new stablecoins with a supply exceeding $10 million grew by 89%. With increasing demand, developers are looking to issue branded digital assets without building complex infrastructure themselves.
PYUSDx addresses this need by providing a ready-made tokenization and issuance model. The base asset is PayPal USD (PYUSD), issued by Paxos, a federally regulated U.S. banking organization. PYUSDx is an independent platform developed by MoonPay Digital Assets, allowing third parties to create their own stablecoins backed by PYUSD.
M0 CEO Luca Prosperi noted that crypto service developers have long used customized stablecoin solutions but lacked a single reliable platform for rapid launch. He believes such solutions will eventually become standard for FinTech developers.
May Zabaneh, SVP and General Manager of Crypto at PayPal, highlighted that the next stage in stablecoin development is tied to application-specific use cases, enabling developers to create unique products without rebuilding financial infrastructure from scratch.
PayPal continues to actively expand its crypto services. In 2025, the company integrated cryptocurrencies into its P2P service and significantly enhanced crypto payment acceptance in the U.S.
