PayPal and MoonPay Launch Stablecoin Platform for Developers

Payment giants PayPal and MoonPay have joined forces with fintech company M0 to launch PYUSDx, a innovative new platform that allows developers to create their own stablecoins based on PayPal's USD. The platform, set to launch next month, is designed to simplify the process of creating and issuing stablecoins for specific ecosystems and applications.

Using a combination of M0's smart contracts and MoonPay's infrastructure, PYUSDx aims to reduce the technical burden on developers by eliminating the need to create payment architecture from scratch. The platform also provides several key features, including rapid token launch, compatibility with different blockchains, transparency in reserve management, and branding capability for stablecoins.

The first client of the platform will be DeFi protocol USD.ai, which plans to issue a specialized stablecoin for artificial intelligence infrastructure. This move is part of PayPal's efforts to expand the real-world application of its base PYUSD, with YouTube set to allow content creators in the US to receive payments in this stablecoin by the end of 2025.