MoonPay’s white-label stablecoin model presents loyalty and in-app rewards as potential uses, with branded businesses handling customer onboarding, support and distribution while infrastructure providers manage reserves, blockchain operations and compliance.
MoonPay has disclosed neither a merchant rewards rollout nor a target launch date. MoonPay, M0 and PayPal introduced PYUSDx on Feb. 25, 2026, as a framework for developers to issue tokens for specific applications, backed by PayPal USD (PYUSD). Paxos Trust Company issues PYUSD.
MoonPay identified USD.ai as PYUSDx’s first developer. The announcement named no merchant network for rewards or system for redeeming them across businesses.
MoonPay and M0 announced an enterprise stablecoin business on Nov. 12, 2025. The plan assigned MoonPay responsibility for issuing and managing fully reserved digital dollars on several blockchains, with customized tokens designed to work across them.
