[PayPal Launches PYUSDx Platform to Support Businesses in Issuing Custom Stablecoins Backed by PYUSD] BlockBeats News, September 9: PayPal has launched the custom stablecoin development platform PYUSDx. The platform was built with the assistance of stablecoin technology company M0 and crypto payment company MoonPay, allowing businesses to issue custom stablecoins backed by PayPal USD (PYUSD) as the underlying asset. PYUSDx is now officially live, with the first batch of crypto-native companies onboarded, including Saturn, Concrete, and Cap, collectively bringing over $100 million in processed transaction volume to the platform. USD.AI and Fairblock will also launch stablecoins through this platform. Tokens within the PYUSDx ecosystem are issued by MoonPay Digital Assets Ltd. The platform integrates M0's universal stablecoin and digital token technology with MoonPay's issuance and distribution infrastructure, providing businesses with stablecoin creation and circulation services. [Original Link]