PayPal and M0 Launch Platform for Businesses to Build on PYUSD

PayPal has teamed up with M0 and MoonPay to launch PYUSDx, a new developer platform that allows businesses to build their own on-chain financial products using PayPal USD, or PYUSD, as the underlying asset. The platform is designed to give businesses access to the stability and liquidity of an established stablecoin while providing tools to create customised blockchain-based products.

The platform is built around the idea of turning PYUSD into a broader foundation for developers. Businesses using PYUSDx can access tools for areas including branding, rewards, access controls, reserve configuration, cross-chain functionality and connections to other blockchain ecosystems. M0 provides the underlying infrastructure, while MoonPay holds the reserves backing the products created through the platform.

PYUSDx is already being used by several companies. M0 says Saturn, Concrete and Cap are currently live on the platform, with the businesses collectively processing more than $100 million in volume as of September 9, 2026. Two additional companies, USD.AI and Fairblock, are expected to join the platform.

The launch reflects PayPal’s broader effort to expand beyond traditional digital payments and build a larger presence in blockchain-based finance. PayPal has already developed PYUSD as its own dollar-denominated stablecoin, while its wider platform business provides merchants and software platforms with payment processing, risk-management and financial tools.

The new platform could give businesses a simpler way to experiment with tokenised financial products without having to build an entire stablecoin infrastructure from scratch. However, the growth of such products will also depend on regulatory requirements, blockchain adoption and user demand. With PYUSDx, PayPal is positioning its stablecoin not simply as a payment method, but as a foundation that other businesses can build upon.