PayPal, MoonPay and M0 Partner to Launch PYUSDx Stablecoin Framework
MoonPay's February 28 update confirms PYUSDx connects M0’s infrastructure and MoonPay’s distribution, enabling reserve-backed stablecoin issuance tied to PayPal USD.
PYUSD
Summary
On February 28, MoonPay announced the launch of the PYUSDx stablecoin issuance framework, backed by PayPal USD (PYUSD). This framework integrates M0’s stablecoin infrastructure protocol with MoonPay’s issuance and distribution capabilities, allowing developers to create reserve-backed stablecoins efficiently. PYUSDx is distinct from PayPal’s consumer applications and builds on MoonPay’s regulated issuance via its New York trust license.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a stable asset, typically a fiat currency like USD, to minimize price volatility.
- PayPal USD (PYUSD): A U.S. dollar-pegged stablecoin issued by Paxos Trust Company and used within PayPal-related ecosystems.
- Stablecoin infrastructure protocol: A technical framework or set of tools that support the creation, management, and operation of stablecoins.