PayPal launches customized stablecoin development platform PYUSDx

PayPal has launched a customized stablecoin development platform PYUSDx, which was built with the assistance of M0 and MoonPay, allowing businesses to issue customized stablecoins backed by PYUSD. PYUSDx has officially launched, with the first batch of Saturn, Concrete, and Cap bringing in over $100 million in processed trading volume. USD.AI and Fairblock will also launch stablecoins through the platform. The tokens within the PYUSDx system are issued by MoonPay Digital Assets Ltd. The platform combines M0's technology with MoonPay's infrastructure to provide stablecoin creation and circulation services for enterprises.