PayPal launches PYUSD developer platform for custom stablecoin issuance

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PayPal has unveiled PYUSDx, a new developer platform designed to enable custom stablecoin token issuance built on its PayPal USD (PYUSD) stablecoin. The platform was developed in partnership with blockchain infrastructure firm M0 and crypto payments company MoonPay. PYUSDx is intended to expand the utility and reach of PayPal's stablecoin by giving developers tools to create and deploy their own tokens. The move signals PayPal's broader ambition to deepen its presence in the digital assets and stablecoin infrastructure space.

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