MoonPay Launches PYUSDx – Programmable Stablecoins Powered by PayPal USD
On February 27, 2026, MoonPay and M0 introduced PYUSDx, a developer framework that allows builders to issue custom, application-specific stablecoins fully backed 1:1 by PayPal USD (PYUSD). The solution dramatically reduces time-to-launch from months to days by removing the need to build separate issuance, custody, and liquidity infrastructure.
PYUSDx tokens are distinct from native PYUSD and are not supported for direct storage or spending inside PayPal or Venmo wallets.
Core Benefits for Developers & Builders
- Instant issuance using existing PYUSD reserves held by regulated custodian Paxos Trust Company
- Branded stablecoins tailored to specific apps, games, AI agents, or communities
- Programmability suitable for embedded payments, loyalty programs, AI-driven finance, and more
- No need to manage banking relationships, reserve backing, or redemption flows
- Regulatory alignment through Paxos-issued PYUSD base layer
MoonPay positions PYUSDx as backend infrastructure for fintechs, gaming studios, AI companies, and Web3 projects that want stable value without launching their own token from scratch.
Ties to MoonPay’s Broader AI & Embedded Finance Push
The launch follows MoonPay’s “MoonPay Agents” announcement earlier in February 2026 – a non-custodial layer that lets AI systems autonomously create wallets and execute transactions. Together, the two products create a clear strategic vision:
- MoonPay Agents → autonomous AI wallets & transaction execution
- PYUSDx → programmable, app-specific dollar stablecoins
This positions MoonPay as a full-stack provider for AI-native finance and embedded payments use cases.
Market Context & Competitive Landscape
PYUSD circulation remains far behind USDC and USDT, but PayPal gains indirect distribution through third-party frameworks like PYUSDx without needing to integrate external stablecoins into its consumer apps.
The move intensifies competition in the programmable dollar infrastructure layer, where issuers and middleware providers are racing to capture developer mindshare in AI, gaming, and fintech verticals.
Quick Facts
- Underlying asset → PayPal USD (PYUSD) issued by Paxos
- Operator of PYUSDx → MoonPay Digital Assets Limited
- Availability → Open to developers building on Ethereum and compatible EVM chains
Target users → Fintechs, gaming platforms, AI agents, loyalty programs, Web3 apps
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