CUSTOM STABLECOINS BACKED BY PAYPAL USD

Summary from the TLDR Crypto newsletter

M0, MoonPay, and PayPal have launched PYUSDx, a white-label stablecoin-as-a-service product that allows companies to issue branded stablecoins collateralized by PYUSD, combining M0's reserve management infrastructure, MoonPay's fiat onramp rails, and PayPal's PYUSD as the underlying reserve asset. This positions PYUSD as a B2B reserve layer rather than purely a consumer-facing instrument.