Key Takeaways
- PYUSDx has already cleared $100M, with Saturn, Concrete and Cap putting the new setup through its paces.
- Stablecoins hit $305.25B on Sept. 10, while Paypal’s PYUSD is sitting pretty in eight place with roughly $2.81B.
- A Paypal executive says stablecoins are “maturing fast,” and PYUSDx could bring more company-branded dollars in 2026.
Paypal, M0 and Moonpay Turn Stablecoin Launches Into a Days-Long Job
On March 1, Bitcoin.com News reported on the triple-stack product PYUSDx and its goals toward powering application-specific stablecoins. On Wednesday, M0 revealed that the developer platform for PYUSD is ready and it is “already crossing $100M+ in scale.” Back in March, M0, MoonPay and PayPal said the platform would let developers launch their own “app-specific” stablecoins in just a few days.
The more than $100 million in processed volume stems from Saturn, Concrete, and Cap, three already-running products. M0’s announcement on X also mentions USD.AI and Fairblock. M0 says all the projects use the same basic technology but have built different products with it. “Every stablecoin platform makes choices about which layers to bundle together and which to leave open,” Luca Prosperi, CEO and Co-founder of M0, remarked.
Prosperi added:
“We built PYUSDx so the product layer belongs to the builder. The three companies launching on it today are each making a different product, and that’s the entire point.”
Paypal Executive Says Stablecoins Are Moving Beyond the Token
The news comes as there’s been a lot of demand for stablecoins, applications, and infrastructure designed to facilitate fiat-pegged tokenization. On Thursday, Sept. 10, 2026, the stablecoin economy, which mostly consists of USD-centric stablecoins, stood around $305.25 billion at 11 a.m. EDT. Tether’s USDT takes the brunt of that market by dominating by 60.07%. Paypal’s PYUSD is the eighth largest stablecoin by market cap with a valuation of around $2.814 billion.
“The stablecoin market is maturing fast,” May Zabaneh, Senior Vice President and General Manager of Crypto at Paypal, said during the announcement. “What separates the next phase from the last isn’t the asset. It’s what companies can do with it. PYUSDx is designed to answer that.”
Businesses may enjoy “app-specific” stablecoins because they can offer their own branded digital dollar without building a stablecoin from scratch. Companies interested in doing so can set their own rules and keep users directly inside their app, while the token is still backed by PYUSD and can be converted back when needed.
This could save companies from dealing with much of their own reserves, liquidity, and blockchain infrastructure themselves. The catch is that while it may look like the company’s own coin, the actual money backing it is still held and managed by someone else.
