TLDR Tech / Fintech
PayPal helps developers build application-specific PYUSD-backed stablecoins
PayPal is working with crypto specialists MoonPay and M0 on an infrastructure platform that lets developers create application-specific stablecoins backed by PYUSD. Launched in 2023, PYUSD is PayPal's own dollar-backed stablecoin, issued by Paxos Trust Company, a federally regulated national banking association. The new platform, called PYUSDx, aims to help developers launch application-specific stablecoins quickly while leveraging the core foundation of PayPal's established token.
Read the full story