PayPal Launches Development Platform Based on Stablecoin PYUSD

A development platform has been launched that allows companies to create digital dollars based on PayPal's stablecoin PYUSD. The volume processed on the platform has exceeded $100 million. On the 9th, stablecoin infrastructure company M0 announced that the 'PayPalUSDx' platform, built in collaboration with PayPal and cryptocurrency payment company MoonPay, has gone live. PayPalUSDx is a platform that supports businesses and developers in creating their own stablecoins and other on-chain financial products based on PYUSD. Currently, three projects—Saturn, Concrete, and Cap—have launched services based on PYUSDx. Saturn has released the digital dollar 'USDat', Concrete has launched 'concUSD', and Cap has introduced 'cUSD'. PYUSDx is not a stablecoin directly issued by PayPal; rather, it is an infrastructure that enables developers to create their own stablecoins using PYUSD as an underlying asset. Tokens based on PYUSDx can be exchanged on-chain for PYUSD and USDC. According to M0's developer documentation, PYUSDx supports Ethereum, Arbitrum, and Monad networks, and includes control features for regulatory compliance. PayPal plans to expand PYUSD from a payment stablecoin to a foundational infrastructure for building financial services.

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