Payment company PayPal, infrastructure provider MoonPay, and fintech platform M0 have announced the PYUSDx product. This will enable developers to issue their own stablecoins based on PayPal USD (PYUSD) for specific ecosystems and applications.
The platform’s release is scheduled for next month.
PYUSDx is a tokenization framework that operates independently from the original PYUSD. Tokens created on this basis cannot be stored or transferred through standard PayPal and Venmo accounts.
The tool combines M0 smart contracts and MoonPay infrastructure. The main goal of the project is to reduce the technical burden on developers, eliminating the need to create payment architecture from scratch for each individual application.
The creators highlighted several features of PYUSDx:
- rapid launch of new tokens;
- compatibility with different blockchains;
- transparency in reserve management;
- branding capability 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 application of the base PYUSD. By the end of 2025, video hosting service YouTube will allow content creators in the US to receive payments in this stablecoin.
Stablecoin from SBI Holdings
Meanwhile, Japanese financial giant SBI Holdings and Web3 company Startale Group have introduced the JPYSC stablecoin, pegged to the Japanese yen. The development of the coin began in December 2025, with the release expected between April and June.
The issuer will be SBI Shinsei Trust Bank, in accordance 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 stablecoins, targeting institutional players, on-chain payments, and cross-border settlements. Developers also plan to use the token for micropayments between AI agents.
In January, stablecoin transfer volumes exceeded $10.5 trillion, the highest level since April 2022.