According to CoinMeta, the stablecoin development platform pyusdx launched by PayPal, M0, and MoonPay has officially gone live, allowing enterprises to issue stablecoins with custom names, revenue distribution, access control, and cross-chain functionality based on PayPal USD (PYUSD). The first batch of projects to go live includes Saturn, Concrete, and Cap. The platform has already processed a total volume of over 100 million US dollars. USD AI and Fairblock also plan to integrate later, but pyusdx and its derivative tokens are not directly issued by PayPal or Paxos, and currently cannot be traded, sent, or used for payments within PayPal and Venmo.