Paxos Dollar

Paxos Standard (PAX) is a stablecoin pegged to the US dollar's value. It is designed to provide a stable and transparent alternative to traditional fiat currencies. USDP is a version of PAX issued and backed 1:1 by the Paxos Trust Company, a regulated Trust company in New York, USA. The Paxos Trust Company holds the equivalent amount of US dollars in reserve for each USDP token issued, and these reserves are audited regularly to ensure their validity. As a result,…