Rewards are generated from the PYUSD reserves and accrue continuously on the PYUSDx that backs your token. Balances are non-rebasing: a holder's balance never changes on its own, and rewards are added only when claimed. Your token's rewards manager decides who receives them and how often.

PYUSDx | Stablecoins Backed by PayPal USD

Q: Is PYUSDx a regulated stablecoin?

No. PYUSDx is not a regulated stablecoin. Its classification and availability vary by jurisdiction and by issuance model. Our team can walk through where and how it can be offered for your product.

Q: Can I create my own stablecoin on PYUSDx?

Yes, if your business completes MoonPay's onboarding and operates in a supported jurisdiction. You choose the name, symbol, and token design, fund it with PYUSD, and MoonPay mints the equivalent PYUSDx that your branded token is built on. Talk to us to scope your setup.

Q: Can my token convert to other tokens built on PYUSDx?

Yes. Every token on the platform is built on the same PYUSDx layer, so you can convert 1:1 between your token, PYUSDx, PYUSD, and any other token on the platform, with no spread and no separate liquidity pool to fund.

Live

Coming soon

Fairblock

Built around your brand.

Make it yours

Choose your name, symbol, and token design.

Claim rewards

Non-rebasing, per-account rewards that you configure and distribute.

Liquidity from day one

Convert across tokens without bootstrapping a separate market.

Convert 1:1

Seamlessly convert between PYUSD and PYUSDx with no spread.

Build across chains

Deploy on Ethereum, Arbitrum, and Monad.

Move across networks

Transfer tokens through built-in cross-chain infrastructure.

How it works.

PYUSDx is MoonPay's issuance framework for application-specific stablecoins backed by PayPal USD (PYUSD). You design the token, M0 runs the shared token layer, and MoonPay Digital Assets Limited issues PYUSDx and manages the PYUSD reserves behind it.

Configure your token

Build on M0's templates. Define your brand, controls, and rewards.

Fund with PYUSD

MoonPay detects the deposit, allocates reserves, and delivers equivalent PYUSDx to the specified wallet. Your branded token is built on top of PYUSDx.

Redeem onchain

Convert your token back to PYUSDx. MoonPay burns redeemed PYUSDx and delivers equivalent PYUSD from reserves.

Established infrastructure underneath.

MoonPay

PYUSD reserve operations, minting, and redemption.

M0

Programmable token infrastructure, shared liquidity and cross-chain capabilities.

PayPal USD

The underlying reserve asset, issued by Paxos.

PYUSDx tokens (and any digital tokens issued on the PYUSDx platform) are not PayPal USD issued by Paxos Trust Company, NA or PayPal, are not a PayPal product or service, and are not otherwise affiliated with PayPal or Paxos Trust Company, NA. PYUSDx is not a regulated stablecoin and its regulatory classification varies by jurisdiction. Availability varies by jurisdiction and issuance model

Two ways to launch stablecoins with MoonPay Enterprise.

Issue

Issue is for businesses that want a fiat-backed stablecoin of their own. MoonPay manages reserves, onboarding, minting, and redemption, and you distribute through MoonPay Ramps, Trade, and connected enterprise partners.

Learn about Issue

PYUSDx

PYUSDx is for builders who want to launch a token backed by an established stablecoin. Your token is built on PayPal USD through M0's templates, converts 1:1 with other PYUSDx-powered tokens, and can support reward programs your business configures. Minting and redemption happen onchain against PYUSD, with no fiat leg.

Talk to us

FAQs

PYUSDx is an issuance framework from MoonPay and M0, built with PayPal, for application-specific stablecoins backed by PayPal USD (PYUSD). You create a custom token on top of PYUSDx with your own name, symbol, and rewards logic. M0 operates the shared token layer, and MoonPay Digital Assets Limited issues PYUSDx and manages the PYUSD reserves behind it.

No. PayPal USD (PYUSD) is a stablecoin issued by Paxos Trust Company, N.A. PYUSDx and the tokens built on it are issued by MoonPay Digital Assets Limited and backed by PYUSD held in reserve. They are not issued by PayPal or Paxos, are not PayPal products or services, and are not otherwise affiliated with either company.

No. PYUSDx is not a regulated stablecoin and does not carry the same protections as regulated products. Its classification and availability vary by jurisdiction and by issuance model.

Yes, if your business completes the onboarding and operates in a supported jurisdiction. You choose the name, symbol, and token design, fund it with PYUSD, and MoonPay mints the equivalent PYUSDx that your branded token is built on. Talk to us to scope your setup.

Any rewards program is configured, funded, and operated by you. If you enable one, your rewards manager decides who receives rewards, how much, and how often, and rewards are added to a balance only when your rewards manager allocates them. Balances are non-rebasing, so a holder's balance never changes on its own. MoonPay does not promise, calculate, or pay a return to token holders.

Ethereum, Arbitrum, and Monad. Tokens move between supported chains through built-in cross-chain infrastructure that burns on the source chain and mints on the destination, so total supply stays consistent.

To mint, deposit PYUSD. MoonPay detects the deposit, allocates it to reserves, and delivers the equivalent PYUSDx to the wallet you specify. To redeem, send PYUSDx back: MoonPay burns it and delivers the equivalent PYUSD from reserves. The whole flow is onchain, PYUSD in and PYUSD out, with no fiat leg.

Yes. Every PYUSDx-powered token is built on a shared platform, so you can convert 1:1 between your token, PYUSDx, PYUSD, and any other PYUSDx-powered token, with no spread and no separate liquidity pool to fund.

Your token deploys through M0's audited templates in a single transaction once the setup is scoped, so the timeline depends on onboarding and design decisions rather than engineering. Pricing depends on your setup and economics. Talk to us and we will map both.

Saturn (USDat), Concrete (ConcUSD), and Cap (cUSD) are live on PYUSDx, with more than $100 million in processed volume across the platform. USD.AI and Fairblock are next.