Pax DollarUSDP
Convert USDP to your currency
Last Updated on Sep 29, 2025 09:33 PM
What is Pax Dollar?
About the coin
Pax Dollar (USDP) was created by Paxos, a financial technology company on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos was the first virtual currency company to receive a charter from the New York State Department of Financial Services. As a chartered limited purpose trust company with fiduciary powers under the Banking Law, Paxos is able to offer regulated services in the crypto-asset and virtual commodities space.
The Paxos team comes from a wide variety of backgrounds with a diverse array of experiences ranging from Wall Street to Silicon Valley. It’s led by CEO and co-founder Charles Cascarilla, who has spent his career as a customer, analyst, investor and now creator of financial technology.
Main features
Paxos describes itself as “the first regulated Trust company with blockchain expertise”, and it is using that expertise to create a modern settlement solution that can eliminate risk and simplify settlements. What many people may not know about Paxos is that it was actually founded in 2012 as Paxos Trust Company, and that for most of its life it ran the cryptocurrency exchange itBit, which is still operates. The creation of Paxos was a pivot from an exchange platform to a company focused on creating a modern settlement platform using blockchain technology.
Paxos has become the most widely adopted cryptocurrency in the fastest time frame, with support from over 20 exchanges and OTC desks in the first five weeks of its existence. It’s been picked up and listed by six of the top ten cryptocurrency exchanges, including Binance, OKEx, Gate.io, ZB, KuCoin, and DigiFinex. These exchanges are offering PAX as an alternative to the controversial Tether.
How it works
The Pax Dollar (USDP) is the first digital asset to be issued by a financial institution and to be fully secured by the U.S. dollar. While other similar stablecoins have existed, there has been no proof of full U.S. dollar reserves, nor have these earlier assets been issued by a financial institution. The Paxos team has been fairly clear in declaring the different base that PAX is working from.
Wallet for Pax Dollar
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Tangem supports networks for Pax Dollar
- Ethereum
- Bnb Smart Chain
- Solana
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Pax Dollar FAQ
- Owning cryptocurrency can be important for several reasons: it provides a decentralized way to store and transfer value, offers potential for investment growth, enables participation in emerging financial technologies, and can be used for secure and private transactions.
- A cryptocurrency wallet is a tool or device that allows you to store, manage, and use your cryptocurrency. It keeps your private keys secure and enables you to interact with various blockchain networks, including Bitcoin and Ethereum.
- When choosing a cryptocurrency wallet, consider factors such as security, ease of use, and cryptocurrencies supported. Also determine whether you prefer a hardware or software wallets. Research reviews and compare features to find the best option for your needs.
- Paxos Trust Company LLC is a regulated financial institution and every aspect of its operations are supervised by theNew York Department of Financial Services. Paxos received the first limited purpose trust charter for digital assets from the NYDFS in 2015.
- Charles Cascarillais the CEO and co-founder of Paxos, a regulated blockchain infrastructure platform that enables the movement of all assets in a trustworthy way.
- Paxos Trust Company is a New York–basedfinancial institution and technology company specializing in blockchain. The company's product offerings include a cryptocurrency brokerage service, asset tokenization services, and settlement services.
How to secure Pax Dollar with Tangem Wallet?
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Why choose Pax Dollar wallet with Tangem.
Private. No registration and KYC required to use the app. We don't track your data.
Secure. Your private keys are encrypted and never leave your device. Only you have control over your funds.
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