Crypto finance company MoonPay has collaborated with stablecoin platform M0 to launch PYUSDx on Friday. The new framework would allow developers to create application-specific stablecoins backed by PayPal USD.
According to the official announcement, the platform would simplify the process for developers looking to increase the rollout of stablecoins tailored to individual apps or ecosystems.
Targeting application-specific stablecoins
PYUSDx is created as a solution to the growing trend of stablecoins built for specific use cases. In 2025, there was a surge in the number of stablecoins with a circulating supply over $10 million, growing by nearly 90% year-over-year. This reflects strong demand for customized, application-oriented tokens.
By using PYUSD as the underlying reserve, developers can now launch their own branded stablecoins without building complex financial infrastructure from scratch.
Focus on developer access
The framework is built to ease technical and operational challenges. Ivan Soto-Wright, CEO and co-founder of MoonPay, commented on the launch, stating, “Through PYUSDx, the MoonPay Group is extending its issuance and distribution capabilities to make PYUSD more accessible to developers, reducing the technical and operational complexity of bringing application-specific stablecoins to market.”
Meanwhile, M0 CEO Luca Prosperi added that the solution allows developers to iterate faster while maintaining liquidity and interoperability within M0’s ecosystem. “Every fintech developer will eventually utilize a solution like PYUSDx,” he said.
Features of PYUSDx
The combination of M0’s tokenization platform, along with its cross-chain platform and MoonPay’s infrastructure, allows developers to:
Stablecoins backed by PYUSD: Create application-specific tokens on a regulated foundation.Quick deployment: Develop and deploy in days instead of months.Cross-chain support: Interoperate across multiple blockchain networks within the M0 ecosystem.Reserve transparency: On-chain reporting and reserve validation for oversight.Flexible economics: Competitive structures designed for developer needs.
The first application on the platform will be USD.ai, which is creating a stablecoin for AI infrastructure.
Also Read: Barclays Eyes Blockchain Push With Stablecoins and Tokenized Deposits
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