27 min ago
2 min read
Summary
- PYUSDx goes live with tokens issued by crypto native firms Saturn, Concrete and Cap.
- The three go-live partners bring over $100 million of processed volume to the new platform.
Digital payments behemoth PayPal PYPL broadened its distributed ledger stablecoin strategy by introducing a bespoke stablecoin developer platform named PYUSDx, created alongside fiat-pegged token expert M0 and digital asset payments corporation MoonPay, the entities announced on Tuesday.
The infrastructure, which equips any enterprise with the tools to launch a tailored stablecoin secured by PayPal USD PYUSD, was initially previewed back in February.
It is launching today with tokens minted by native crypto entities Saturn, Concrete, and Cap, which collectively contribute over $100 million in settled transaction volume to the network, according to a formal press statement.
As traditional finance transitions onto distributed ledgers, rivalry is intensifying beyond dominant stablecoin creators Tether and Circle Internet (CRCL). Legacy financial networks are actively seeking a competitive edge, fueled heavily by the aggressive market strategies deployed by competitors like Stripe.
PayPal, which CoinDesk originally uncovered as the pioneering payment network to introduce cryptocurrency acquisition and liquidation back in 2020, now stands at an inflection point where collaborating with web3 specialists like M0 and Moonpay and deepening its technological commitment is the most logical path forward.
PayPal has already pursued aggressive adoption for its PYUSD stablecoin, and the enterprise occupies a singular position to drive mass market acceptance thanks to the massive user base of Venmo, according to Luca Prosperi, chief executive officer of M0, a firm that additionally collaborates with the Stripe-acquired Bridge and licensed custody provider Anchorage.
“As more financial institutions are getting involved, this creates fragmentation,” Prosperi stated in a conversation. “Plus, most of these financial institutions don’t really know how to engage with developers, so we abstract away the complexity and the risk and create a layer in the middle that facilitates integrations with all these new projects.”
PYUSDx digital assets are minted by MoonPay Digital Assets Ltd. The architecture merges M0’s universal stablecoin and digital token systems with MoonPay’s issuance and distribution framework. Additional organizations rolling out stablecoins on PYUSDx feature USD.AI and Fairblock, based on the press announcement.
Originally published at https://www.coindesk.com/business/2026/09/09/paypal-expands-stablecoin-rails-with-launch-of-custom-token-issuance-platform.
