PayPal, M0 and Moonpay Enable Companies to Launch Branded Stablecoins in Days

PayPal, alongside infrastructure providers M0 and Moonpay, launched PYUSDx, a developer platform that allows companies to issue their own stablecoin‑backed products in a matter of days. The service builds on PayPal’s existing PYUSD stablecoin and aims to simplify the creation of app‑specific digital dollars.

Early Adoption and Volume

Within weeks of launch, the platform has processed more than $100 million in transaction volume. Early adopters include Saturn, Concrete and Cap, which are using the same underlying technology to deliver distinct branded stablecoin products.

Market Context

On September 10, 2026 the total market value of USD‑pegged stablecoins was about $305.25 billion. Tether’s USDT remains dominant with roughly 60 % market share. PayPal’s own PYUSD ranks eighth, with a market cap near $2.81 billion.

What PYUSDx Offers

The platform lets businesses create “app‑specific” stablecoins that are backed by PYUSD. Companies can set custom rules, keep users within their own applications, and avoid building reserve management, liquidity provisioning, or blockchain infrastructure from scratch. The backing assets remain under the control of PayPal’s stablecoin framework, not the individual brand.

Executive Perspective

May Zabaneh, PayPal’s Senior Vice President and General Manager of Crypto, said the stablecoin sector is “maturing fast” and that the next phase will be defined by what companies can do with the assets rather than the assets themselves.

Technical Insights

Luca Prosperi, CEO and co‑founder of M0, noted that PYUSDx separates the product layer from the underlying stablecoin layer, allowing each builder to customize the user experience while sharing a common technical foundation. Other projects mentioned in the announcement include USD.AI and Fairblock.