Payment company PayPal, infrastructure provider MoonPay, and fintech platform M0 have announced the PYUSDx product. This platform will enable developers to issue their own stablecoins based on PayPal USD (PYUSD) for specific ecosystems and applications.

The platform is set to launch next month.

PYUSDx is a tokenization framework that operates independently from the original PYUSD. Tokens created on this platform cannot be stored or transferred through standard PayPal or Venmo accounts.

This tool combines M0's smart contracts with MoonPay's infrastructure. The primary goal of the project is to reduce the technical burden on developers, eliminating the need to build payment architecture from scratch for each application.

The creators highlighted several features of PYUSDx:

  • Quick launch of new tokens;
  • Compatibility with various blockchains;
  • Transparency in reserve management;
  • Branding options for stablecoins.

The first client of the platform will be the DeFi protocol USD.ai, which will issue a specialized stablecoin for artificial intelligence infrastructure.

Meanwhile, PayPal is expanding the real-world use of the underlying PYUSD. By the end of 2025, video hosting platform YouTube will allow content creators in the U.S. to receive payments in this stablecoin.

Stablecoin from SBI Holdings

At the same time, Japanese financial giant SBI Holdings and Web3 company Startale Group have introduced the JPYSC stablecoin pegged to the Japanese yen. Development of the coin began in December 2025, with a release expected between April and June.

The issuer will be SBI Shinsei Trust Bank, in compliance with local digital asset laws. The token will be distributed by the cryptocurrency exchange SBI VC Trade, while Startale will handle the technical aspects.

The companies position JPYSC as a regulated alternative to dollar-pegged stablecoins. The asset is aimed at institutional players, on-chain payments, and cross-border transactions. Developers also plan to use the token for micropayments between AI agents.

As a reminder, in January, the volume of stablecoin transfers exceeded $10.5 trillion—its highest level since April 2022.