What is PAX (Paxos Standard)?
Paxos Standard (PAX) was built so that money can move fast.
PAX is a digital dollar. Like other crypto assets, it can move instantaneously, anywhere in the world, any time of any day, and it’s programmable. Unlike other crypto assets, PAX is stable. It is backed 1:1 for the dollar and it’s issued by the Paxos Trust Company, so the funds are carefully protected, audited and regulated.
PAX, a stablecoin
PAX is a USD-backed stablecoins and as such is a digital representations of USD. All Paxos powered USD-backed stablecoins have 1:1 parity with USD.
How many confirmations are needed for PAX?
PAX requires 12 network confirmations. Learn about transaction confirmations.
Which blockchain network hosts PAX?
PAX is hosted on the Ethereum blockchain (ERC-20).
How can I see my PAX on the platform?
On our platform, you will only see a USD balance which can be withdrawn as USD-backed stablecoins on a 1:1 basis to external supporting ERC20 wallets.
Is PAX regulated?
PAX is regulated by the New York State Department of Financial Services and issued by Paxos Trust Company. USD is issued by the US Treasury.