Pax Dollar

PAX (Paxos Standard) is the world's first compliant staboin, issued by blockchain startup Paxos and overseen by the New York Department of Financial Services. PAX aims to provide liquidity to investors trading crypto assets by providing a "digital alternative to cash" for instant trade settlement across all asset classes. It is a stablecoin backed by 1:1 US dollars, with 1PAX equal to 1 US dollar, and all PAX reserves will be 100% collateralized against fully held US dollars. PAX is built on Ethereum's ERC-20 standard, can be sent between any two wallets on the Ethereum network, and verified Paxos customers can purchase or exchange PAX on their company website. 
PAX is an Ethereum-based ERC-20 token, so PAX is automatically listed on most crypto exchanges that support Ethereum. As erC-20 tokens, PAX is neither mineable nor mortgaged and can only be purchased or exchanged. The entire physical structure of PAX services is based on smart contracts that control one-to-one transactions between PAX and dollars. As mentioned earlier, the total supply of Paxos standard tokens is supported by fiat money in the reserve. To mint and destroy tokens, there is a Supply Controller address. PAX tokens are open source and the code can be found on the GitHub page. 
 As a digital asset, Paxos Standard can teleport anywhere in the world. It is based on the Ethereum blockchain and provides the benefits of crypto assets such as immutability and decentralized accounting. Because it is fully collateralized in US dollars, Paxos Standard offers a digital alternative to cash flow that can be traded immediately, around the clock, and is fully convertible. As a trust company, Paxos is the trustee and qualified custodian of client funds, thus providing greater protection for client assets than any other existing stablecoin. Dollar deposits have been held in separate accounts with a number of FDIC-insured US registered banks. 
 Members of the Paxos team have extensive experience, with backgrounds in Wall Street finance and technology from Silicon Valley. On August 25, 2021, Paxos changed the name of its U.S. Dollar stable currency Paxos Standard (PAX) to PAX Dollar (USDP), according to an official Paxos announcement.

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S&amp;P Global launches stablecoin ratings, ranks GUSD, USDP, USDC highest

Binance Will ‘Auto-Convert’ $USDC, $USDP, $TUSD to $BUSD From September 29

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Paxos and MercadoLibre partner up to bring USDP to Mexico

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Andrew Chang is chief operating Officer of Paxos and itBit. He has 15 years of operating experience in technology companies and startups. Prior to joining Paxos, Andrew was Chief Strategic Partner Development Manager at Google, where he was responsible for business development of display advertising products.

Andrew Chang

Dorothy Chang

Executive Director of&nbsp;Post-Trade

Seth Phillips

&nbsp;&nbsp; General Counsel &amp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Chief Compliance Officer&nbsp; &nbsp;

Daniel Burstein

Chief Security Officer &amp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Director of IT&nbsp; &nbsp;&nbsp;

	Rank	Source	Price	24h	Volume(24H)	Trading Percent	Updated
1	Binance	1	Binance	USDP/USDT	1.0012	0.09%	$3,342,127.96	36.9889%	2024-09-16 19:16:56
2	KuCoin	2	KuCoin	USDP/USDT	0.99610000	-0.01%	$399.44	0.0044%	2024-09-16 13:55:52
3	Upbit	3	Upbit	USDP/BTC	0.00001666	0%	$357.03	0.0040%	2024-09-16 19:04:19
4	BitMart	4	BitMart	USDP/USDT	1.0012	0.09%	$576,397.62	6.3793%	2024-09-16 19:14:56
5	Bitrue	5	Bitrue	USDP/USDT	1.0013	0.1%	$107,832.15	1.1934%	2024-09-16 19:15:10
6	VinDax	6	VinDax	USDP/USDT	1.0005	0.1%	$4,637.32	0.0513%	2024-09-16 19:10:44

	Volume(24H)	Trading Percent
Binance	Binance	$3,342,127.96	82.8952%	Visit
KuCoin	KuCoin	$399.44	0.0099%	Visit
Upbit	Upbit	$357.03	0.0089%	Visit
BitMart	BitMart	$576,397.62	14.2965%	Visit
Bitrue	Bitrue	$107,832.15	2.6746%	Visit
VinDax	VinDax	$4,637.32	0.1150%	Visit

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