PayPal Unveils PYUSDx, a Platform for Custom Stablecoin Issuance

PayPal has entered the world of tokenization with the launch of PYUSDx, a platform that allows developers to create custom stablecoins backed by PayPal USD (PYUSD). This innovative tool is the result of a collaboration between PayPal, MoonPay, and M0.

PYUSDx aims to reduce the technical and operational barriers that have historically made launching custom stablecoins difficult. The platform enables projects to go from development to launch in days, not months, thanks to its multichain compatibility within M0's ecosystem, reserve transparency through on-chain reporting, and the ability to create custom-branded tokens for specific ecosystems or protocols.

The first project to utilize PYUSDx is USD.ai, a DeFi protocol focused on AI infrastructure. This development marks an exciting step forward in the integration of stablecoins with decentralized finance (DeFi) applications.