PayPal, MoonPay, and M0 jointly launch the PYUSDx framework, enabling applications to create their own stablecoins.

Techub News reports, according to Cointelegraph, PayPal, in collaboration with MoonPay and the stablecoin platform M0, has launched PYUSDx, a tokenization and issuance framework that allows developers to create stablecoins backed by PayPal USD (PYUSD) and pegged to the US dollar for use within specific applications, platforms, or ecosystems. The product is scheduled to officially launch next month. PYUSDx is provided by MoonPay Digital Assets, operates independently of the native PYUSD, and enables developers to quickly launch brand-customized, cross-chain supported, and reserve-transparent stablecoins without having to build infrastructure from scratch. Currently, the DeFi protocol USD.ai has become the first developer to utilize this platform to build a stablecoin dedicated to AI infrastructure. It is important to note that PYUSDx tokens and PayPal USD are independent of each other and cannot be directly used, sent, or stored in PayPal or Venmo accounts.