MoonPay has launched the PYUSDx framework, allowing developers to issue branded, application-specific stablecoins with PayPal USD (PYUSD) as the reserve asset. This solution combines M0's stablecoin infrastructure protocol with MoonPay's issuance and distribution capabilities, separating reserve management from token issuance to accelerate the stablecoin launch process. Under this architecture, PYUSD, issued by Paxos Trust, serves as the underlying reserve asset, while the branded stablecoin is issued by MoonPay Digital Assets. The latter recently obtained a New York State trust license, enabling it to act as a stablecoin issuer. Developers can launch custom stablecoins without having to build their own underlying technology and operational systems. With this product's launch, the market is also focused on whether it complies with the regulatory framework of the US GENIUS Act and the future applicability of the tokens in different jurisdictions.