PayPal has officially launched PYUSDx, a custom stablecoin developer platform that gives companies infrastructure to issue stablecoins backed by PayPal USD (PYUSD). The platform was built with support from fiat-backed token specialist M0 and crypto payments company MoonPay.
PYUSDx was first previewed in February and is now live. Crypto-native firms Saturn, Concrete and Cap have already issued tokens on the platform, generating more than $100 million in processing volume. USD.AI and Fairblock are also among the companies launching stablecoins on PYUSDx.
PayPal Launches PYUSDx Platform for Custom Stablecoin Issuance
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