what's PYUSDx?

PYUSDx is a stablecoin tokenization and issuance framework that enables developers and Web3 builders to launch custom, branded, application-specific stablecoins backed 1:1 by PayPal USD (PYUSD). Developed by MoonPay Digital Assets Limited in collaboration with M0's universal stablecoin platform and PayPal, it streamlines the process from development to deployment in days, not months. Key features include cross-chain interoperability across multiple blockchains, on-chain reserve transparency and validation, and competitive economics more flexible than traditional stablecoin products. PYUSDx leverages PYUSD's established liquidity and backing—issued by Paxos Trust Company and fully reserved with U.S. dollar deposits, Treasuries, and equivalents. Stablecoins created via PYUSDx are programmable digital dollars distinct from PYUSD itself, with issuance handled by MoonPay. The first implementation is USD.ai, a stablecoin for AI infrastructure financing, highlighting its role in expanding stablecoin use cases while reducing technical and operational barriers for fintech and app developers.