PANews February 27 News: According to Cointelegraph, payment giant PayPal has partnered with MoonPay and the stablecoin platform M0 to jointly launch PYUSDx, aimed at helping developers create USD-pegged stablecoins supported by PayPal USD (PYUSD) for specific applications, platforms, or ecosystems. The product is scheduled to go live next month.
PYUSDx is a tokenization and issuance framework provided by MoonPay Digital Assets, independent of the native PYUSD. Developers can use this framework to quickly launch branded, cross-chain supported stablecoins with transparent reserves, without building the monetary infrastructure from scratch. Currently, DeFi protocol USD.ai is the first developer to build an AI infrastructure-specific stablecoin on this platform. It is important to note that PYUSDx tokens are independent of PayPal USD and cannot be directly used, sent, or stored in PayPal or Venmo accounts.
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