PayPal, MoonPay and M0 launch PYUSDx to let devs issue app-specific stablecoins

PYUSDx lets developers issue app-specific stablecoins backed by PayPal USD with fast launch, cross-chain support and branded token options.

Payment giant PayPal is expanding access to its stablecoin through a new platform it says will allow devleopers to create their own US dollar-pegged tokens backed by PayPal USD.

PayPal, MoonPay and stablecoin platform M0 on Friday announced PYUSDx, a product aimed at helping developers launch PayPal USD (PYUSD)-backed stablecoins for use within applications, or tokens designed for use inside a particular app, platform or ecosystem, according to a joint announcement shared with Cointelegraph.

The companies said the rollout is planned for next month.

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