PYUSDx has processed a trading volume exceeding 100 million USD, supporting businesses to create branded stablecoins within days

Payment company PayPal, stablecoin infrastructure project M0, and cryptocurrency payment platform MoonPay have launched PYUSDx, enabling businesses to create stablecoin-based products within days. The platform has processed transaction volumes exceeding 100 million dollars, with Saturn, Concrete, and Cap utilizing the related technology to launch products.

Luca Prosperi, co-founder and CEO of M0, stated that PYUSDx allows developers to build on the product layer, enabling different businesses to develop various products based on the same technology. USD.AI and Fairblock are also listed as related projects. May Zabaneh, Senior Vice President and General Manager of PayPal's cryptocurrency business, mentioned that the stablecoin market is rapidly maturing. The total market capitalization of stablecoins is approximately 30.525 billion dollars, with USDT accounting for 60.07%; PYUSD has a market cap of about 2.814 billion dollars, ranking eighth. Businesses can issue brand digital dollars backed by PYUSD and set corresponding rules to redeem back to PYUSD when necessary.