PayPal, M0, and MoonPay Launch PYUSDx for Stablecoin-Based Products

PayPal has launched PYUSDx with stablecoin infrastructure project M0 and crypto payments platform MoonPay, allowing businesses to create stablecoin-based products within days. According to Odaily, the platform has processed more than $100 million in transaction volume, and Saturn, Concrete, and Cap have already used the technology to launch products. M0 co-founder and CEO Luca Prosperi said PYUSDx leaves the product layer to developers, allowing different companies to build different products on the same technology. USD.AI and Fairblock were also listed as related projects. PayPal senior vice president and general manager of crypto May Zabaneh said the stablecoin market is maturing quickly. On September 10, the total stablecoin market capitalization was about $305.25 billion, with USDT accounting for 60.07%, while PYUSD had a market capitalization of about $2.814 billion and ranked eighth. Companies can issue brand digital dollars backed by PYUSD and set rules for them, with the option to redeem them for PYUSD when needed.