Pax Dollar
Pax Dollar is a fully collateralized stablecoin issued by Paxos and regulated by the New York State Department of Financial Services (NYDFS). Backed 1:1 by U.S. dollars held in reserve, it offers trust and security for users seeking regulated exposure to dollar-denominated assets. USDP is used in trading, lending, and payments. It is considered one of the more compliant and conservative stablecoins.
| Pax Dollar | |
|---|---|
| Symbol | USDP |
| Type | Fiat-backed |
| Collateralization Method | Cash & Treasury Reserves |
| Pegged To | USD |
| Issuer | Paxos |
| Blockchain Support | Ethereum |
| Market Cap Rank | 6 |
| Reserve Transparency | High (Monthly Audits) |
| Stability History | Highly Stable |
| Primary Use Cases | Payments, regulatory-compliant uses |
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