Stabledash
Stabledash
White‑label issuance leverages Paxos-regulated reserves and MoonPay distribution; PYUSD’s multi-chain reach strengthens settlement utility amid intensifying stablecoin competition.
February 27, 2026
PayPal, M0, and MoonPay today officially introduced PYUSDx, a purpose-built stablecoin tokenization framework that dramatically simplifies the creation and launch of branded, application-specific stablecoins.
The framework is backed 1:1 by PayPal USD (PYUSD) — the regulated U.S. dollar stablecoin issued by Paxos Trust Company — and is designed to let developers go from initial build to live launch in days, not months.
“Building and managing stablecoins at the application layer requires dependable infrastructure,” said Ivan Soto-Wright, CEO and co-founder of MoonPay. “Through PYUSDx, the MoonPay Group is extending its issuance and distribution capabilities to make PYUSD more accessible to developers, reducing the technical and operational complexity of bringing application-specific stablecoins to market.”
PYUSDx combines M0’s universal stablecoin and digital token platform (which separates reserve management from token issuance) with MoonPay’s enterprise-grade issuance, distribution, and compliance infrastructure. The result is a turnkey solution that provides:
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PYUSD itself remains unchanged: it continues to be issued by federally regulated Paxos Trust Company and is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. PYUSDx tokens, however, are distinct — they are issued by MoonPay Digital Assets Limited and are not PayPal products. They are not supported for storage, sending, or receiving inside PayPal or Venmo wallets and cannot be used on PayPal’s consumer platforms.
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