What Is Pax Dollar (USDP)?
Pax Dollar is the first regulated blockchain infrastructure platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is building a new system that allows assets to move instantaneously, anywhere in the world, at any time. Paxos uses technology to tokenize, custody, trade and settle assets for enterprise clients. It enables fintechs and financial institutions to offer crypto capabilities to their users through its Paxos Crypto Brokerage and Stablecoin as a Service products.
It also offers settlement solutions for securities and commodities. Paxos clients include global enterprises PayPal, Credit Suisse, Societe Generale, StoneX and Revolut. Pax Dollar is a top-funded blockchain company with more than $500 million in total funding from leading investors like OakHC/FT, Declaration Partners, Mithril Capital and PayPal Ventures. With offices in New York, London and Singapore, Paxos takes a global approach to modernizing the financial system.
Pax Dollar Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Pax Dollar |
| Short Name | USDP |
| Circulating Supply | 945,642,940.11 USDP |
| Total Supply | 945,642,940 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Redeemable one-to-one
Convert USDP to equivalent US Dollars at any time. Pax Dollar offers unparalleled assurance to customers that their USDP is backed one-to-one by the dollar. USDP is subject to strict regulatory oversight by the New York State Department of Financial Services, meeting the highest standards of consumer protection. USDP reserves are held in cash and cash equivalents, meaning that customer funds are always kept safe and available for redemption.
Send money easily and safely
USDP gives customers the ability to store and send US Dollars with freedom, unrestricted by the limits of traditional banking. Move money instantaneously, anytime, across borders. With only a mobile phone, you can create an account and use USDP to store and send money or access crypto markets. Pax Dollar USDP provides financial access to everyone – even the 1.7 billion adults globally without bank accounts.
Monthly Attestations
USDP is reviewed by a top-ranking auditing firm on a monthly basis to verify its supply matches the reserve account comprised of US Dollars and debt instruments that are expressly guaranteed by the full faith and credit of the United States Government, including through repurchase agreements and/or money-market funds composed of such debt instruments. Pax Dollar make every report available – because your money matters.
Paxos Will Accelerate Mainstream Digital Asset Adoption in 2022
Pax Dollar believe the future of finance will be powered by tokenized financial market infrastructure. Paxos aspires to enable all asset holders – from the largest financial institutions to the individual consumer – to transact assets with the highest levels of trustworthiness, transparency and speed. If last year was the tip of the iceberg, 2022 will reveal the prime time adoption of digital assets and financial services.
A Misunderstood Opportunity
This conflation in many people’s minds of T+0, Real-Time Gross Settlement (RTGS), and atomic settlement demonstrates just how misunderstood this topic really is. To be clear, T+0 simply means settlement on the same day as the trade, RTGS means settlement at the time of trading, and atomic settlement is the transfer of securities against cash (ie: delivery vs payment) at any settlement time. All of these should be embraced as opportunities that can create efficiencies, cut costs and protect Pax Dollar system from future market failures.
USDP Chosen for Novi Pilot
USDP, Paxos’ leading regulated stablecoin backed 100% by cash and cash equivalents, is the inaugural stablecoin available in Facebook’s pilot of the Novi digital wallet launched today. This news represents a tide shift in digital assets, as it’s the first time that stablecoins are readily available in a consumer wallet outside of the crypto ecosystem.