Report Date: October 15, 2025 Source: AIXBT MCP Top Projects
Tether & PayPal back Stable Pay; Morpho selected for institutional yield.
The search results do not contain information about Tether and PayPal backing a project called "Stable Pay" or about Morpho being selected for institutional yield in connection with such a project. However, the search results do reference several distinct payment-focused projects with similar names.
There are at least two separate projects using the "StablePay" name that appear in the available information:
Cardano-Based StablePay operates as a crypto payment widget designed to allow merchants to accept payments in ADA that are automatically converted to stablecoins. Founded by Dr. Bruno Woltzenlogel Paleo, who is also the founder of the Djed Alliance and main author of the Djed stablecoin paper, this project aims to address the infrastructure gap that has prevented cryptocurrencies from achieving widespread acceptance for real-world payments. The widget is designed as an open-source solution that Cardano community members can integrate into their merchant websites.
Ethereum-Based StablePay functions as a decentralized platform enabling users to receive DAI or cDAI (Compound DAI) regardless of the source token transferred. This project won a prize from MakerDAO at ETH San Francisco and subsequently received a MakerDAO grant to develop the platform further. The platform integrates with multiple DeFi protocols including Uniswap, Kyber, Maker, and Compound.
PayPal has developed its own stablecoin called PYUSD, launched in August 2023 and issued by Paxos Trust Company. As of August 2024, PYUSD had a market capitalization under $1 billion, significantly trailing competitors like Tether's $117 billion. PayPal is also utilizing Mesh's technology to power crypto conversion tools that will be rolled out in the U.S. for the 2025 holiday shopping season.
Without search results confirming the specific backing arrangements or institutional yield partnerships mentioned in your query, I cannot provide analysis of those particular developments.
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