PayPal, MoonPay, and M0 have officially launched PYUSDx a new infrastructure platform that lets developers quickly issue their own branded, application-specific stablecoins fully backed by PayPal USD ($PYUSD). What is PYUSDx? It's not a new version of PYUSD or a @PayPal product itself. PYUSDx is a tokenization and issuance framework offered by @moonpay Digital Assets Limited. Developers can create custom stablecoins (e.g., "GameUSD", "SocialToken", or "AIUSD") that are 1:1 backed by PYUSD reserves. PYUSD (issued by regulated Paxos Trust Company) remains the underlying stable asset fully backed by USD deposits, Treasuries, and cash equivalents. Think of it as "stablecoin-in-a-box" for apps: you get your own branded token without building reserves, compliance, redemption rails, or cross-chain infrastructure from scratch. Super-fast launch: Go from idea to live token in days, not months. Branded & app-specific: Fully customizable name/symbol for use inside games, platforms, DeFi apps, AI agents, loyalty programs, etc. Cross-chain compatible: Works across multiple blockchains via M0’s interoperable protocol. Reserve transparency: On-chain reporting and validation built-in. Flexible economics: More developer-friendly fees/revenue share than many competing solutions. Built on M0’s universal stablecoin platform (which separates reserve management from token issuance) + MoonPay’s issuance/distribution rails. Why This Matters The stablecoin market is shifting from “one big USD token” (like USDT/USDC) to application-layer custom dollars. PayPal’s head of crypto, May Zabaneh, put it perfectly:“The next phase of stablecoin adoption is happening at the application layer. Developers want to build differentiated experiences, but they shouldn’t have to rebuild trusted monetary infrastructure from scratch.” MoonPay CEO Ivan Soto-Wright and M0 CEO Luca Prosperi echoed that this solves the huge technical/operational burden that previously stopped most devs from launching their own stablecoins.First project live on it: "USD. ai" building an application-specific stablecoin for AI infrastructure.