PayPal launches PYUSDx, a platform enabling enterprises to issue custom stablecoins backed by PYUSD, with early partners having processed over $100M in volume.
DeFi & Yields ·
PayPal, alongside M0 and MoonPay, has launched PYUSDx, a platform that enables enterprises to issue custom stablecoins backed by PYUSD. Early partners—Saturn, Concrete, and Cap—have already processed over $100M in trading volume on the platform. USD.AI and Fairblock are also preparing to launch tokens through PYUSDx.
The platform converts PYUSD from a standalone stablecoin into infrastructure supporting a broader ecosystem of enterprise-issued tokens. This structure allows participating entities to issue their own stablecoins while maintaining backing from PYUSD, potentially lowering barriers to entry for institutions seeking to issue digital currencies.
The long-term impact on settlement volumes and adoption rates remains to be seen, as the platform is newly launched and institutional use cases continue to develop.