MoonPay has launched PYUSDx, a framework that allows developers to issue branded, application specific stablecoins backed by PayPal USD (PYUSD) as the reserve asset. The offering combines M0’s stablecoin infrastructure protocol, which separates reserve management from token issuance, with MoonPay’s issuance and distribution capabilities. The key point of M0 is the issuer can delegate the management of reserves, making it faster to launch as stablecoin.
Under the structure, PYUSD, issued by Paxos Trust, a (provisionally) federally regulated national trust bank, serves as the reserve backing for white labeled tokens. These branded stablecoins are issued by MoonPay Digital Assets, which recently received a New York trust charter allowing it act as issuer. Developers can use the framework to launch branded stablecoins without building the underlying technical and operational infrastructure themselves.
The launch raises questions about compliance with the GENIUS Act, the US stablecoin legislation, which may have implications for where these tokens can be used.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
