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# MoonPay Opens PYUSDx Stablecoin Launchpad for PayPal USD-Backed Tokens
- URL: https://www.solanahorizon.com/moonpay-opens-pyusdx-stablecoin-launchpad-for-paypal-usd-backed-tokens/
- Published: 2026-08-13T16:37:03.000Z
- Updated: 2026-08-13T16:37:03.000Z
- Description: The platform lets developers issue application-specific stablecoins backed 1:1 by PayPal USD, with MoonPay handling issuance and M0 providing the underlying token infrastructure.
- Author: Jaden Parsons
- Tags: MoonPay, Solana, News

[MoonPay](https://www.solanahorizon.com/tag/moonpay/) has [launched the PYUSDx Stablecoin Launchpad,](https://x.com/moonpay/status/2087925982262890867?ref=solanahorizon.com) opening its framework for issuing application-specific stablecoins backed by PayPal USD to developers.

Built by MoonPay and M0 in partnership with PayPal, the launchpad lets developers create stablecoins backed 1:1 by PYUSD while configuring features including branding, fees, distribution, and reward allocation. Availability depends on jurisdiction and the applicable issuance model.

The launch follows the initial announcement of PYUSDx by MoonPay, M0 and PayPal from February 27 this year. The framework is designed to give protocols and applications a way to issue their own stablecoins without building the underlying issuance and reserve infrastructure themselves.

PYUSDx tokens use PYUSD as their reserve asset. When PYUSD is deposited, MoonPay allocates it to a reserve account and an equivalent amount of the application-specific token is minted on-chain. Redemption burns the issued token and releases the corresponding PYUSD from reserves.

[M0](https://www.m0.org/?ref=solanahorizon.com) provides the token infrastructure, while developers can configure the application-facing stablecoin and determine how rewards generated from the underlying reserves are allocated. PYUSDx-based tokens can also be converted 1:1 on-chain with PYUSD or other tokens using the framework, according to MoonPay.

PYUSDx is separate from PayPal USD (PYUSD), the dollar-denominated stablecoin issued by Paxos Trust Company, N.A. PYUSDx tokens are issued through MoonPay Digital Assets Limited and are not issued by PayPal or Paxos. They are also not supported for holding, sending or receiving through PayPal or Venmo.