Pax Dollar (USDP)A Stablecoin Backed By The US Dollar.
- Rebranded from Paxos Standard, Pax Dollar is a fiat-backed stablecoin that is redeemable one-to-one with USD. It has been approved by The New York State Department of Financial Services.
- USDP was designed for multiple use-cases such as peer-to-peer transfers, commerce, trading, and holding.
- Paxos, the company that issues USDP, claims that USDP is backed by deposit in FDIC-insured US banks or US government treasuries, and customer dollars are all accounted for as customer property.
- As at June 30th 2022, the total and circulating token supply of USDP is 945,642,940.