MoonPay Launches PYUSDx Framework, Supporting Branded Stablecoin Issuance Based on PayPal's PYUSD

Odaily News: MoonPay has released the PYUSDx framework, allowing developers to issue branded, application-specific stablecoins using PayPal USD (PYUSD) as the reserve asset. This solution combines M0's stablecoin infrastructure protocol with MoonPay's issuance and distribution capabilities, separating reserve management from token issuance to accelerate the stablecoin launch process.

Under this architecture, PYUSD issued by Paxos Trust serves as the underlying reserve asset, while the branded stablecoins are issued by MoonPay Digital Assets. The latter recently obtained a New York State trust license, enabling it to act as a stablecoin issuer. Developers can launch customized stablecoins without needing to build their own underlying technology and operational systems.

The launch of this product coincides with market attention on its compliance with the relevant U.S. regulatory framework, the GENIUS Act, and the future applicability of related tokens in different jurisdictions.