According to ME News, on September 9 (UTC+8), the stablecoin protocol Cap announced on Twitter that its native stablecoin, cUSD, has been migrated to PYUSDx, a customized stablecoin developer platform launched by PayPal, M0, and MoonPay, with its reserve assets now backed by PYUSD. Previously, idle funds in its pool were held in volatile DeFi liquidity; following the migration, the reserve is now supported by PYUSD, while Cap retains contractual control. (Source: Foresight News)
Cap's cUSD Stablecoin Migrates to the PYUSDx Platform
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Summary
On-chain news broke on September 9 (UTC+8) as the stablecoin protocol Cap announced a protocol update: its native stablecoin, cUSD, has migrated to PYUSDx, a custom stablecoin platform co-launched by PayPal, M0, and MoonPay. The reserve asset is now PYUSD. Previously, idle funds were held in volatile DeFi liquidity; after the migration, they are backed by PYUSD reserves, with Cap retaining contract-level control.
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