9 September. PayPal, M0 and MoonPay open PYUSDx: a layer for firms to issue their own on-chain dollar, backed by PYUSD. First three: Saturn, Concrete, Cap. Together, more than $100 million of processed volume, they say. That is not $100 million of extra PYUSD in the world. It is activity run through the platform.

PYUSD remains issued by Paxos. PYUSDx tokens are issued by MoonPay Digital Assets, FinanceFeeds notes. crypto.news adds: those tokens do not yet move inside PayPal or Venmo. May Zabaneh (PayPal) says the next phase is what you build with the dollar, not the dollar alone.

What 9 September holds

  • Held. PYUSDx platform live. $100m of declared volume, three projects. PYUSD = Paxos. PYUSDx = MoonPay.
  • Not held. That this is $100m of new reserves. That it works in the PayPal app. Advice to buy PYUSD.

Sources: FinanceFeeds, crypto.news. Nothing here is investment advice.