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MoonPay launches the PYUSDx framework, supporting the issuance of branded stablecoins based on PayPal PYUSD
MoonPay has launched the PYUSDx framework, allowing developers to issue branded, application-specific stablecoins backed by PayPal USD (PYUSD).
This solution combines the stablecoin infrastructure protocol of M0 with MoonPay's issuance and distribution capabilities, separating reserve management from token issuance, thereby accelerating the stablecoin launch process. Under this architecture, PYUSD, issued by Paxos Trust, serves as the underlying reserve asset, while branded stablecoins are issued by MoonPay Digital Assets. The latter has recently obtained a trust license in New York, enabling it to act as a stablecoin issuer. Developers can launch customized stablecoins without the need to build their own underlying technology and operational systems.
At the time of the product launch, the market is also concerned about its compliance with the regulatory framework of the U.S. GENIUS Act and the applicability of related tokens in different jurisdictions in the future.
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