PayPal introduces PYUSD-backed platform for custom stablecoin issuance

PayPal is expanding its stablecoin infrastructure with PYUSDx, a developer platform designed to support the issuance of custom tokens backed by PayPal USD (PYUSD). The platform is being developed with assistance from M0 and MoonPay, according to CoinDesk. The initiative adds a new layer to PayPal’s stablecoin offering by giving developers access to tools for creating tokens linked to PYUSD. The announcement places PYUSD at the center of PayPal’s broader stablecoin rails, while M0 and MoonPay are contributing to the platform’s development. Details on the platform’s availability, supported use cases, and specific token issuance terms were not provided in the source material.