PayPal has launched PYUSDx, a platform enabling businesses and developers to create custom branded stablecoins. Each token issued through the platform is backed 1:1 by PayPal’s existing PYUSD stablecoin, which is issued by Paxos and supported by US dollar reserves.
The platform aims to reduce the time required to launch a stablecoin from months to days by handling reserve management, regulatory compliance, and blockchain infrastructure. The system was developed in partnership with M0 and MoonPay.
PYUSDx features multi-chain compatibility and allows issuers to customize fee structures and incentive models. The platform officially went live on September 9, 2026, following an announcement in February 2026.
Three launch partners—Saturn, Concrete, and Cap—have processed over $100 million in volume using the platform. Saturn’s USDat token currently has approximately $65 million in circulation.
