PayPal has unveiled the PYUSDx platform to make it easier for developers to issue app-specific stablecoins, Cointelegraph reported on Feb. 27. PayPal is launching PYUSDx in partnership with MoonPay and stablecoin platform M0.

The platform lets developers use PayPal USD (PYUSD)-based stablecoins within apps. May Zabaneh (마이 자바네), PayPal’s head of crypto, said, “The next stage of stablecoin adoption happens at the application layer.” She added, “Developers do not need to build trusted financial infrastructure from scratch while creating differentiated experiences.” PYUSDx is a tokenisation and issuance framework provided by MoonPay Digital Assets, separate from PYUSD. Combining the M0 stablecoin platform with MoonPay infrastructure, it offers fast launches, cross-chain compatibility, flexible economic models, a transparent reserve structure and the ability to create branded stablecoins.

USD.ai joined as the first developer, using PYUSDx to support a stablecoin for AI infrastructure. PYUSDx tokens are operated separately from PayPal USD and cannot be used in PayPal or Venmo accounts. Cointelegraph said the PYUSDx launch is part of PayPal’s strategy to expand real-world use cases for its stablecoin.