PayPal launches PYUSDx developer platform for custom PYUSD-backed stablecoins

PayPal launched PYUSDx on September 9, 2026, a platform that lets businesses and developers issue their own stablecoins on top of PayPal USD (PYUSD). M0 built the developer stack and MoonPay handles issuance and holds the PYUSD reserves behind the tokens. Three issuers were live at launch and had processed more than $100 million in volume.

• Launched September 9, 2026
• Lets developers issue custom stablecoins backed by PYUSD
• Built with M0; MoonPay issues tokens and holds the PYUSD reserves
• Live issuers at launch: Saturn, Concrete and Cap, with more than $100M processed