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PayPal Launches PYUSDx Custom Stablecoin Platform After $100 Million Milestone

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Sig3.00Sen+4.23Env-0.28Soc+0.78Gov+2.08

PayPal launched PYUSDx, a custom stablecoin platform that lets businesses create application-specific “branded” digital dollars backed by PayPal USD, without building issuance and liquidity systems. PYUSDx itself is not a stablecoin. MoonPay Digital Assets Limited issues the derivative tokens via PYUSDx, while reserve reports and third-party attestations cover the assets. PayPal, M0 and MoonPay said active projects processed over $100 million since Sept. 9.

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