USD-backed stablecoins are digital representations of USD. All Paxos powered USD-backed stablecoins have 1:1 parity with USD. PAX and BUSD are regulated by the New York State Department of Financial Services and issued by Paxos Trust Company. USD is issued by the US Treasury.
On our platform, you will only see a USD balance which can be withdrawn as USD-backed stablecoins on a 1:1 basis to external supporting ERC20 wallets.