Pax Dollar

About Pax Dollar

Pax Dollar (USDP), formerly known as Paxos Standard (PAX), is a regulated, fiat-collateralized stablecoin issued by Paxos Trust Company. It is designed to maintain a 1:1 parity with the U.S. dollar and is fully backed by cash and cash equivalents held in reserve. Paxos is a chartered limited purpose trust company under the New York State Department of Financial Services (NYDFS), making USDP one of the first regulated digital assets in the crypto ecosystem. The token facilitates instant global settlements and serves as a digital representation of the dollar, providing a transparent alternative to other stablecoins like Tether. While primarily used for liquidity and volatility management on various blockchain networks, it is supported by numerous exchanges and OTC desks.