Paxos Standard (PAX) is a 1:1 USD-collateralized stablecoin approved by the New York State Department of Financial Services (NYDFS). Paxos, as a company, does not charge any extra fees for the issuance and redemption.
PAX was designed for multiple use-cases such as peer-to-peer transfers, commerce, trading, and holding.
Paxos Standard runs on both, Ethereum as an ERC-20 token, and on the Ontology blockchain as a OEP-4 token.
PAX has been supported by multiple exchanges such as Binance.com (ERC-20 only). PAX is also fully redeemable 1:1 against BUSD on the Paxos website.