What is Pax Dollar (USDP)?
Pax Dollar (USDP) was built so that money can move fast.
USDP is an ERC-20 tokenized 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, USDP 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.
USDP, a stablecoin
USDP is a USD-backed stablecoin and as such is a digital representation of USD. All Paxos powered USD-backed stablecoins have 1:1 parity with USD.
Which blockchain network hosts USDP?
USDP is hosted on the Ethereum blockchain (ERC-20)
How many confirmations are needed for USDP?
USDP transactions require 12 network confirmations.
How can I see my USDP on the platform?
On our platform, you will only see a single USD balance, which can be withdrawn interchangeably as fiat or as USD-backed stablecoins on a 1:1 basis to external wallets that support ERC-20 tokens.
Is USDP regulated?
USDP is regulated by the New York State Department of Financial Services and issued by Paxos Trust Company. USD is issued by the US Treasury.