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Paxos Standard is a stablecoin, meaning its market value is pegged to the US dollar. It allows you to exchange US dollars for the Paxos Standard Tokens. It aims to stabilise the dollar with blockchain technology. Paxos is regulated as a trust company by the New York State Department of Financial Services. According to the white paper, PAX is a token that is backed one-to-one by US dollar deposits. Once PAX tokens are redeemed for US dollars, they are instantly removed from the supply, meaning the supply of PAX tokens directly correlates with the US dollars held by Paxos.
Pax Dollar (USDP) is the 53rd largest cryptocurrency in the world by market cap, valued at $955,622,700. The current price of Pax Dollar is $0.992711, which is -0.743% lower than yesterday. Prices have ranged between $1.014 and $0.980489 over the past 24 hours. All prices are listed in US dollars and accurate as of January 31, 2023 03:01 UTC.
| Coin symbol | USDP |
|---|---|
| Coin Marketcap | US$955,622,700 |
| Total USDP supply | 967,646,078 |
| Circulating USDP | 967,646,078 |
| Current price | US$0.992711 |
| All time high | US$1.13 |
| All time high date | October 15, 2018 |
| Notable team members | Charles Cascarilla, Rich Teo |
| Partnerships | PayPal (partnership with Paxos) |
| Industry | Stablecoins |
| Token uses | Stablecoin |
| Network | Ethereum |
Historical prices compared with the price of US$0.992711.
| 1 hour | -0.83% |
|---|---|
| 24 hours | -0.74% |
| 7 days | -0.59% |
| 14 days | -0.81% |
| 30 days | -0.47% |
|---|---|
| 60 days | -0.74% |
| 200 days | -1.05% |
| 1 year | -0.54% |
Disclaimer: Cryptocurrencies, including Pax Dollar, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of USDP is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Pax Dollar or any other cryptocurrency discussed.
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