The landscape of digital finance is shifting toward a more personalized future. Industry leaders MoonPay and M0 on Feb. 27 introduced PYUSDx, a cutting-edge infrastructure platform designed to help developers launch their own “application-specific” stablecoins.
This new framework is built on a regulated and trusted foundation: PayPal USD (PYUSD). By leveraging this established asset, builders can now create and scale their own branded stablecoins while avoiding the massive technical hurdles that typically take months to clear.
With PYUSDx, the timeline from concept to launch is compressed into just a few days.
Related: Stablecoin adoption accelerates as businesses embrace real-time transactions
Stablecoins are a type of cryptocurrency designed to stay steady. They avoid the high volatility of assets like Bitcoin by pegging their value to a reserve, most commonly the U.S. dollar. They act as a digital bridge between traditional money and the crypto world, used for everything from trading to global payments.
The industry is currently seeing a massive wave of growth. In early February, the total stablecoin market capitalization crossed $300 billion, marking one of the strongest liquidity expansions in history. While the market is currently led by names like Tether (USDT), USD Coin (USDC), and Dai (DAI), PayPal’s own entry is gaining significant ground.
PayPal launched its dollar stablecoin, PYUSD, in 2022 through Paxos. Positioned as a 24/7 alternative to traditional bank transfers, its market cap is now estimated at approximately $4 billion. At the time of writing, PYUSD was trading at $0.99, down 0.01% over the last 24 hours.
The move comes at a time of explosive growth for digital dollars. In 2025 alone, the number of newly issued stablecoins with a supply of more than $10 million increased by a staggering 89%.
As the market evolves, businesses and developers are looking for “branded” solutions tailored to their specific ecosystems or apps. However, managing the plumbing of a stablecoin is notoriously difficult.
“Building and managing stablecoins at the application layer requires dependable infrastructure,” says Ivan Soto-Wright, CEO and co-founder of MoonPay.
He notes that PYUSDx reduces the “technical and operational complexity” for developers, making digital dollars more accessible than ever.
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