PayPal, M0 and MoonPay officially launched PYUSDx on Sept. 9, allowing businesses to create customized tokens backed by PayPal USD, or PYUSD. M0 supplies programmable token infrastructure, while MoonPay Digital Assets Limited issues the custom tokens and MoonPay provides onboarding and distribution services. Paxos Trust Company, N.A. issues the underlying PYUSD stablecoin. Saturn, Concrete and Cap launched through the platform and reported more than $100 million in combined processed activity, although the companies did not disclose a project-by-project breakdown or define the measure as assets under management, revenue or token market value. Saturn's USDat has roughly $65 million in circulation, while Cap's cUSD has approximately $92 million in total supply and Concrete has created concUSD for its onchain vault operations. PYUSDx tokens cannot currently be sent, received or used for payments in PayPal or Venmo. USD.AI and Fairblock are planned additions, with no activation dates announced.