PayPal launched PYUSDx, a platform that lets businesses create custom stablecoins backed by PayPal USD (PYUSD), expanding PayPal’s stablecoin infrastructure beyond its own branded token.

PYUSDx was built with stablecoin infrastructure provider M0 and crypto payments firm MoonPay. The platform has launched with Saturn, Concrete and Cap, which collectively bring more than $100M in processed volume.

The platform combines M0’s stablecoin technology with MoonPay’s issuance and distribution infrastructure, allowing businesses to launch their own stablecoins while leveraging PYUSD as the underlying backing.

Additional projects including USD AI and Fairblock are also joining the platform.

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