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Pax Dollar

Pax Dollar USDP

token
Pax Dollar Price (USDP)
$0.9996
0.18% Buy USDP

0.0006 ETH

0.0000372 BTC

Low: $0.9987
High: $1.00
24h
Market Cap
$1,018,615,807
0.18%
Fully Diluted Market Cap
$1,018,615,807
0.18%
Volume
24h
$5,612,085
31.52%
Volume / Market Cap
0.0055
Circulating Supply
1,019,052,716 USDP
Max Supply
--
Total Supply
1,019,052,716
Pax Dollar USDP
Price: $0.9996
0.18% Buy USDP
Price: $1
0.18%
Buy USDP
stablecoin that is pegged to the USD at a 1:1 ratio, meaning that the USDP price is equal to $1. The USD reserve that collateralizes Pax Dollar tokens is held in <strong>segregated accounts owned by the Paxos company<\/strong> at multiple FDIC-insured banks located throughout the United States. The Pax Dollar coins are stored on the Ethereum blockchain in the form of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-erc-20/">ERC-20 tokens.<\/p>\r\n<p>To secure the transactions completed with Pax Dollars, Paxos employs <strong>OpenZeppelin's Pausable mechanism<\/strong> for USDP contracts. In essence, it allows pausing USDP transfers whenever there is a threat.<\/p>\r\n<p>In addition, Withum, a top-tier auditing company, audits the USD deposits. It's responsible for ensuring that the total supply of Pax Dollar tokens matches the USD held in Paxos' reserve accounts. <strong>This means that there always has to be a $1 for 1 USDP token. <\/strong>Monthly attestation reports produced by Withum are posted on the Paxos website.<\/p>\r\n<p>Note that the Pax Dollar price is still subject to some degree of fluctuation. However, it usually stays around $1, even during fluctuations, ensuring that the volatility is kept to a minimum.<\/p>\r\n<h2>The Founders of Pax Dollar<\/h2>\r\n<p>A financial technology company called Paxos is behind the creation of the Pax Dollar tokens. Paxos intends to revolutionize finance by achieving a way to move assets as fast as the internet moves. In 2015, the New York State Department of Financial Services gave Paxos a trust company charter, <strong>making Paxos<\/strong> <strong>the first licensed financial institution in America to provide cryptocurrency-related goods and services.<\/strong><\/p>\r\n<p>Initially, in 2018, Paxos introduced <strong>the Paxos Standard stablecoin. <\/strong>However, it was rebranded in 2021 to the Pax Dollar to more accurately reflect the pegged USDP price. Furthermore, in 2012, Paxos launched a cryptocurrency exchange called <strong>itBit.<\/strong><\/p>\r\n<p>Paxos was founded by <strong>Charles Cascarilla and Rich Teo<\/strong>. Prior to founding Paxos, Charles Cascarilla co-founded Cedar Hill Capital Partners and worked at such companies as Claiborne Capital Management, Goldman Sachs, and the Bank of America. Besides, he is the founding board member of the Association for Digital Asset Markets (ADAM).<\/p>\r\n<p>Talking about Rich Teo, he used to work at Cedar Hill Capital Partners, founded by Cascarilla. He was also a financial analyst at Citi and even a combat signaler in the Singapore Armed Forces.<\/p>\r\n<h2>The Purpose of Pax Dollars<\/h2>\r\n<p>Essentially, USDP tokens are a great way to <strong>move USD in a decentralized way <\/strong>without going through third-party banking systems. Just like any other ERC-20 asset, the Pax Dollar can be exchanged over the Ethereum network. Users simply need to transmit tokens to an address managed by Paxos to redeem USDP. Paxos will then burn the USDP tokens and transfer fiat money to the bank account of the user.<\/p>\r\n<p>Furthermore, another purpose of Pax Dollar tokens is to <strong>stabilize the volatility of the whole crypto market. <\/strong>Since the Pax Dollar price is pegged to the USD, it's barely affected by the fluctuations that occur in the crypto market.<\/p>\r\n<p>Besides lowering the volatility of the crypto market and moving USD, the Pax Dollar crypto assets can function as <strong>a plan B for crypto holders during extremely high market fluctuations. <\/strong><em>How? <\/em>Crypto holders can simply exchange their assets to USDP, this way preserving the value of their holdings in an asset that is not prone to change much.<\/p>\r\n<p>Lastly, USDP serves as <strong>a utility token<\/strong> that allows itBit exchange users to convert other crypto assets to USDP instantly and free of charge. The stable USDP price also helps reduce the high volatility of the market.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/paxos-standard-usdp-price","crypto_currency_info":{"id":182,"crypto_currency_id":69,"description":"Pax Dollar (USDP) is a cryptocurrency and operates on the Ethereum platform. Pax Dollar has a current supply of 945,642,940.11. The last known price of Pax Dollar is 1.00081226 USD and is down -0.12 over the last 24 hours. It is currently trading on 40 active market(s) with $9,948,926.30 traded over the last 24 hours. More information can be found at https:\/\/www.paxos.com\/usdp\/.","tags":"[\"store-of-value\",\"stablecoin\",\"asset-backed-stablecoin\",\"bnb-chain\"]","platform":"{\"id\":1027,\"name\":\"Ethereum\",\"symbol\":\"ETH\",\"slug\":\"ethereum\",\"token_address\":\"0x8e870d67f660d95d5be530380d0ec0bd388289e1\"}","category":"token","cmc_logo":"https:\/\/s2.coinmarketcap.com\/static\/img\/coins\/64x64\/3330.png","original_links":"{\"website\":[\"https:\\\/\\\/www.paxos.com\\\/usdp\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/PaxosStandard\"],\"message_board\":[\"https:\\\/\\\/medium.com\\\/@PaxosStandard\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/etherscan.io\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/ethplorer.io\\\/address\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/blockchair.com\\\/ethereum\\\/erc-20\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/eth.tokenview.com\\\/en\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/standard.paxos.com\\\/whitepaper.pdf\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\"],\"announcement\":[]}","links":"{\"website\":{\"paxos.com\":\"https:\\\/\\\/www.paxos.com\\\/usdp\\\/\"},\"community\":{\"twitter.com\":\"https:\\\/\\\/twitter.com\\\/PaxosStandard\",\"medium.com\":\"https:\\\/\\\/medium.com\\\/@PaxosStandard\"},\"explorer\":{\"etherscan.io\":\"https:\\\/\\\/etherscan.io\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"ethplorer.io\":\"https:\\\/\\\/ethplorer.io\\\/address\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"blockchair.com\":\"https:\\\/\\\/blockchair.com\\\/ethereum\\\/erc-20\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"eth.tokenview.com\":\"https:\\\/\\\/eth.tokenview.com\\\/en\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"bscscan.com\":\"https:\\\/\\\/bscscan.com\\\/token\\\/0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\"},\"technical_doc\":\"https:\\\/\\\/standard.paxos.com\\\/whitepaper.pdf\",\"source_code\":\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\"}","data":"{\"id\":3330,\"name\":\"Pax Dollar\",\"symbol\":\"USDP\",\"category\":\"token\",\"description\":\"Pax Dollar (USDP) is a cryptocurrency and operates on the Ethereum platform. Pax Dollar has a current supply of 945,642,940.11. The last known price of Pax Dollar is 1.00081226 USD and is down -0.12 over the last 24 hours. It is currently trading on 40 active market(s) with $9,948,926.30 traded over the last 24 hours. More information can be found at https:\\\/\\\/www.paxos.com\\\/usdp\\\/.\",\"slug\":\"paxos-standard\",\"logo\":\"https:\\\/\\\/s2.coinmarketcap.com\\\/static\\\/img\\\/coins\\\/64x64\\\/3330.png\",\"subreddit\":\"\",\"notice\":\"Paxos Standard (PAX) is now Pax Dollar (USDP) More details: https:\\\/\\\/www.paxos.com\\\/the-digital-dollar-that-always-equals-a-dollar-paxos-standard-pax-is-now-pax-dollar-usdp\\\/\",\"tags\":[\"store-of-value\",\"stablecoin\",\"asset-backed-stablecoin\",\"bnb-chain\"],\"tag-names\":[\"Store Of Value\",\"Stablecoin\",\"Asset-Backed Stablecoin\",\"BNB Chain\"],\"tag-groups\":[\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"PLATFORM\"],\"urls\":{\"website\":[\"https:\\\/\\\/www.paxos.com\\\/usdp\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/PaxosStandard\"],\"message_board\":[\"https:\\\/\\\/medium.com\\\/@PaxosStandard\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/etherscan.io\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/ethplorer.io\\\/address\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/blockchair.com\\\/ethereum\\\/erc-20\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/eth.tokenview.com\\\/en\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/standard.paxos.com\\\/whitepaper.pdf\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\"],\"announcement\":[]},\"platform\":{\"id\":1027,\"name\":\"Ethereum\",\"symbol\":\"ETH\",\"slug\":\"ethereum\",\"token_address\":\"0x8e870d67f660d95d5be530380d0ec0bd388289e1\"},\"date_added\":\"2018-09-27T00:00:00.000Z\",\"twitter_username\":\"PaxosStandard\",\"is_hidden\":0,\"date_launched\":null,\"contract_address\":[{\"contract_address\":\"0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"platform\":{\"name\":\"Ethereum\",\"coin\":{\"id\":\"1027\",\"name\":\"Ethereum\",\"symbol\":\"ETH\",\"slug\":\"ethereum\"}}},{\"contract_address\":\"0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\",\"platform\":{\"name\":\"BNB Smart Chain (BEP20)\",\"coin\":{\"id\":\"1839\",\"name\":\"BNB\",\"symbol\":\"BNB\",\"slug\":\"bnb\"}}}],\"self_reported_circulating_supply\":null,\"self_reported_tags\":null,\"self_reported_market_cap\":null}","launched_at":null,"created_at":"2022-03-25T14:20:18.000000Z","updated_at":"2023-05-18T14:34:12.000000Z"},"crypto_currency_social":{"id":68,"crypto_currency_id":69,"twitter":"{\"name\":\"Paxos\",\"username\":\"@PaxosStandard\",\"follower_count\":325,\"following_count\":0,\"tweet_count\":0,\"created_at\":\"2022-02-06 00:00:00\"}","reddit":null,"github":"{\"stars\":148,\"watchers\":40,\"forks\":92,\"language\":\"Solidity\",\"license\":\"MIT License\",\"repo_name\":\"paxosglobal\\\/pax-contracts\",\"repo_link\":\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\",\"public_repos\":104,\"bio\":\"Building the Future of Financial Services with Blockchain Technology\",\"type\":\"Organization\",\"username\":\"paxosglobal\",\"user_link\":\"https:\\\/\\\/github.com\\\/paxosglobal\",\"created_at\":\"2016-10-19 00:00:00\"}","telegram":null,"domain":"{\"domain_rating\":76,\"ahrefs_top\":33003,\"traffic\":0,\"website\":\"https:\\\/\\\/www.paxos.com\"}"},"buy_page":null,"halving_page":null}" :fiat-currency=""USD"">
stablecoin that is pegged to the USD at a 1:1 ratio, meaning that the USDP price is equal to $1. The USD reserve that collateralizes Pax Dollar tokens is held in <strong>segregated accounts owned by the Paxos company<\/strong> at multiple FDIC-insured banks located throughout the United States. The Pax Dollar coins are stored on the Ethereum blockchain in the form of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-erc-20/">ERC-20 tokens.<\/p>\r\n<p>To secure the transactions completed with Pax Dollars, Paxos employs <strong>OpenZeppelin's Pausable mechanism<\/strong> for USDP contracts. In essence, it allows pausing USDP transfers whenever there is a threat.<\/p>\r\n<p>In addition, Withum, a top-tier auditing company, audits the USD deposits. It's responsible for ensuring that the total supply of Pax Dollar tokens matches the USD held in Paxos' reserve accounts. <strong>This means that there always has to be a $1 for 1 USDP token. <\/strong>Monthly attestation reports produced by Withum are posted on the Paxos website.<\/p>\r\n<p>Note that the Pax Dollar price is still subject to some degree of fluctuation. However, it usually stays around $1, even during fluctuations, ensuring that the volatility is kept to a minimum.<\/p>\r\n<h2>The Founders of Pax Dollar<\/h2>\r\n<p>A financial technology company called Paxos is behind the creation of the Pax Dollar tokens. Paxos intends to revolutionize finance by achieving a way to move assets as fast as the internet moves. In 2015, the New York State Department of Financial Services gave Paxos a trust company charter, <strong>making Paxos<\/strong> <strong>the first licensed financial institution in America to provide cryptocurrency-related goods and services.<\/strong><\/p>\r\n<p>Initially, in 2018, Paxos introduced <strong>the Paxos Standard stablecoin. <\/strong>However, it was rebranded in 2021 to the Pax Dollar to more accurately reflect the pegged USDP price. Furthermore, in 2012, Paxos launched a cryptocurrency exchange called <strong>itBit.<\/strong><\/p>\r\n<p>Paxos was founded by <strong>Charles Cascarilla and Rich Teo<\/strong>. Prior to founding Paxos, Charles Cascarilla co-founded Cedar Hill Capital Partners and worked at such companies as Claiborne Capital Management, Goldman Sachs, and the Bank of America. Besides, he is the founding board member of the Association for Digital Asset Markets (ADAM).<\/p>\r\n<p>Talking about Rich Teo, he used to work at Cedar Hill Capital Partners, founded by Cascarilla. He was also a financial analyst at Citi and even a combat signaler in the Singapore Armed Forces.<\/p>\r\n<h2>The Purpose of Pax Dollars<\/h2>\r\n<p>Essentially, USDP tokens are a great way to <strong>move USD in a decentralized way <\/strong>without going through third-party banking systems. Just like any other ERC-20 asset, the Pax Dollar can be exchanged over the Ethereum network. Users simply need to transmit tokens to an address managed by Paxos to redeem USDP. Paxos will then burn the USDP tokens and transfer fiat money to the bank account of the user.<\/p>\r\n<p>Furthermore, another purpose of Pax Dollar tokens is to <strong>stabilize the volatility of the whole crypto market. <\/strong>Since the Pax Dollar price is pegged to the USD, it's barely affected by the fluctuations that occur in the crypto market.<\/p>\r\n<p>Besides lowering the volatility of the crypto market and moving USD, the Pax Dollar crypto assets can function as <strong>a plan B for crypto holders during extremely high market fluctuations. <\/strong><em>How? <\/em>Crypto holders can simply exchange their assets to USDP, this way preserving the value of their holdings in an asset that is not prone to change much.<\/p>\r\n<p>Lastly, USDP serves as <strong>a utility token<\/strong> that allows itBit exchange users to convert other crypto assets to USDP instantly and free of charge. The stable USDP price also helps reduce the high volatility of the market.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/paxos-standard-usdp-price","crypto_currency_info":{"id":182,"crypto_currency_id":69,"description":"Pax Dollar (USDP) is a cryptocurrency and operates on the Ethereum platform. Pax Dollar has a current supply of 945,642,940.11. The last known price of Pax Dollar is 1.00081226 USD and is down -0.12 over the last 24 hours. It is currently trading on 40 active market(s) with $9,948,926.30 traded over the last 24 hours. More information can be found at https:\/\/www.paxos.com\/usdp\/.","tags":"[\"store-of-value\",\"stablecoin\",\"asset-backed-stablecoin\",\"bnb-chain\"]","platform":"{\"id\":1027,\"name\":\"Ethereum\",\"symbol\":\"ETH\",\"slug\":\"ethereum\",\"token_address\":\"0x8e870d67f660d95d5be530380d0ec0bd388289e1\"}","category":"token","cmc_logo":"https:\/\/s2.coinmarketcap.com\/static\/img\/coins\/64x64\/3330.png","original_links":"{\"website\":[\"https:\\\/\\\/www.paxos.com\\\/usdp\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/PaxosStandard\"],\"message_board\":[\"https:\\\/\\\/medium.com\\\/@PaxosStandard\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/etherscan.io\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/ethplorer.io\\\/address\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/blockchair.com\\\/ethereum\\\/erc-20\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/eth.tokenview.com\\\/en\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/standard.paxos.com\\\/whitepaper.pdf\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\"],\"announcement\":[]}","links":"{\"website\":{\"paxos.com\":\"https:\\\/\\\/www.paxos.com\\\/usdp\\\/\"},\"community\":{\"twitter.com\":\"https:\\\/\\\/twitter.com\\\/PaxosStandard\",\"medium.com\":\"https:\\\/\\\/medium.com\\\/@PaxosStandard\"},\"explorer\":{\"etherscan.io\":\"https:\\\/\\\/etherscan.io\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"ethplorer.io\":\"https:\\\/\\\/ethplorer.io\\\/address\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"blockchair.com\":\"https:\\\/\\\/blockchair.com\\\/ethereum\\\/erc-20\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"eth.tokenview.com\":\"https:\\\/\\\/eth.tokenview.com\\\/en\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"bscscan.com\":\"https:\\\/\\\/bscscan.com\\\/token\\\/0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\"},\"technical_doc\":\"https:\\\/\\\/standard.paxos.com\\\/whitepaper.pdf\",\"source_code\":\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\"}","data":"{\"id\":3330,\"name\":\"Pax Dollar\",\"symbol\":\"USDP\",\"category\":\"token\",\"description\":\"Pax Dollar (USDP) is a cryptocurrency and operates on the Ethereum platform. Pax Dollar has a current supply of 945,642,940.11. The last known price of Pax Dollar is 1.00081226 USD and is down -0.12 over the last 24 hours. It is currently trading on 40 active market(s) with $9,948,926.30 traded over the last 24 hours. More information can be found at https:\\\/\\\/www.paxos.com\\\/usdp\\\/.\",\"slug\":\"paxos-standard\",\"logo\":\"https:\\\/\\\/s2.coinmarketcap.com\\\/static\\\/img\\\/coins\\\/64x64\\\/3330.png\",\"subreddit\":\"\",\"notice\":\"Paxos Standard (PAX) is now Pax Dollar (USDP) More details: https:\\\/\\\/www.paxos.com\\\/the-digital-dollar-that-always-equals-a-dollar-paxos-standard-pax-is-now-pax-dollar-usdp\\\/\",\"tags\":[\"store-of-value\",\"stablecoin\",\"asset-backed-stablecoin\",\"bnb-chain\"],\"tag-names\":[\"Store Of Value\",\"Stablecoin\",\"Asset-Backed Stablecoin\",\"BNB Chain\"],\"tag-groups\":[\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"PLATFORM\"],\"urls\":{\"website\":[\"https:\\\/\\\/www.paxos.com\\\/usdp\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/PaxosStandard\"],\"message_board\":[\"https:\\\/\\\/medium.com\\\/@PaxosStandard\"],\"chat\":[],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/etherscan.io\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/ethplorer.io\\\/address\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/blockchair.com\\\/ethereum\\\/erc-20\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/eth.tokenview.com\\\/en\\\/token\\\/0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"https:\\\/\\\/bscscan.com\\\/token\\\/0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\"],\"reddit\":[],\"technical_doc\":[\"https:\\\/\\\/standard.paxos.com\\\/whitepaper.pdf\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\"],\"announcement\":[]},\"platform\":{\"id\":1027,\"name\":\"Ethereum\",\"symbol\":\"ETH\",\"slug\":\"ethereum\",\"token_address\":\"0x8e870d67f660d95d5be530380d0ec0bd388289e1\"},\"date_added\":\"2018-09-27T00:00:00.000Z\",\"twitter_username\":\"PaxosStandard\",\"is_hidden\":0,\"date_launched\":null,\"contract_address\":[{\"contract_address\":\"0x8e870d67f660d95d5be530380d0ec0bd388289e1\",\"platform\":{\"name\":\"Ethereum\",\"coin\":{\"id\":\"1027\",\"name\":\"Ethereum\",\"symbol\":\"ETH\",\"slug\":\"ethereum\"}}},{\"contract_address\":\"0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094\",\"platform\":{\"name\":\"BNB Smart Chain (BEP20)\",\"coin\":{\"id\":\"1839\",\"name\":\"BNB\",\"symbol\":\"BNB\",\"slug\":\"bnb\"}}}],\"self_reported_circulating_supply\":null,\"self_reported_tags\":null,\"self_reported_market_cap\":null}","launched_at":null,"created_at":"2022-03-25T14:20:18.000000Z","updated_at":"2023-05-18T14:34:12.000000Z"},"crypto_currency_social":{"id":68,"crypto_currency_id":69,"twitter":"{\"name\":\"Paxos\",\"username\":\"@PaxosStandard\",\"follower_count\":325,\"following_count\":0,\"tweet_count\":0,\"created_at\":\"2022-02-06 00:00:00\"}","reddit":null,"github":"{\"stars\":148,\"watchers\":40,\"forks\":92,\"language\":\"Solidity\",\"license\":\"MIT License\",\"repo_name\":\"paxosglobal\\\/pax-contracts\",\"repo_link\":\"https:\\\/\\\/github.com\\\/paxosglobal\\\/pax-contracts\",\"public_repos\":104,\"bio\":\"Building the Future of Financial Services with Blockchain Technology\",\"type\":\"Organization\",\"username\":\"paxosglobal\",\"user_link\":\"https:\\\/\\\/github.com\\\/paxosglobal\",\"created_at\":\"2016-10-19 00:00:00\"}","telegram":null,"domain":"{\"domain_rating\":76,\"ahrefs_top\":33003,\"traffic\":0,\"website\":\"https:\\\/\\\/www.paxos.com\"}"},"buy_page":null,"halving_page":null}" :fiat-currency="{"name":"United States Dollar","logo":"\/crypto-prices\/fiat-logos\/USD.svg","symbol":"USD","sign":"$","price":1}" >

Pax Dollar (USDP) Social Signals & Traffic Tracker

Pax Dollar twitter
Twitter Stats
Visit Twitter

Followers

1.25%

Joined at Feb 06, 2022

Following

0

0.00%

Tweet count

0

0.00%

Pax Dollar reddit
Reddit Stats

Subscribers

-

Subreddit type

-

Moderators

-

Currently, official Pax Dollar (USDP) Reddit Stats account doesn’t exist or wasn’t submitted. 🔆

Pax Dollar telegram
Telegram Stats

Members

-

Title

-

Currently, official Pax Dollar (USDP) Telegram Stats account doesn’t exist or wasn’t submitted. 🔆

Pax Dollar traffic
Website Traffic
Visit Website

Website Rating (DR)

76 / 100

0.00%

Ahrefs Rank

33,003

0.75%

Organic Traffic (mo.)

0

0.00%

Pax Dollar github
GitHub Organization
Visit GitHub

Public repos

Created at Oct 19, 2016

Type

Organization

Pax Dollar github
GitHub Public Repository
Visit GitHub

Stars

0.68%

Watchers

40

0.00%

Forks

92

0.00%

Language

Solidity

These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.

These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.

These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project's quantitative metrics of its official Twitter account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.

These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.

Pax Dollar Price Statistics

Pax Dollar Price
$0.9996
Price Change 24h
-$0.0018
0.18%
24h Low / 24h High
$0.9987 /
$1.00
All Time High
Nov 16, 2021 (1 year 6 months ago)
$2.02
50.58%
All Time Low
Dec 11, 2022 (5 months 1 week ago)
$0.6014
66.19%
Trading Volume 24h
$5,612,085
31.52%
Volume / Market Cap
0.0055
Market Dominance
0.09%
Market Rank
#47
Market Cap
$1,018,615,807
0.18%
Fully Diluted Market Cap
$1,018,615,807
0.18%

Live USDP Price Analysis

The current real time Pax Dollar price is $0.9996, and its trading volume is $5,612,085 in the last 24 hours. USDP price has plummeted by 0.18% in the last day, and increased by 0.02% in the last 7 days. It’s important to note that current Pax Dollar market capitalization is $1,018,615,807, Talking about circulating supply, USDP has 1,019,052,716 coins. Currently, Pax Dollar rank on the market is #47.

Pax Dollar price today is 50.58% below all time high, and it is 66.19% above all time low.

All data and prices are updated in real-time. The most active and popular exchanges for buying or selling USDP are Binance, Kucoin & Kraken. Find more crypto exchange options on our Crypto Exchange Tracker. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor.

What Is Pax Dollar (USDP)?

The Pax Dollar (USDP) is a stablecoin that is pegged to the USD at a 1:1 ratio, meaning that the USDP price is equal to $1. The USD reserve that collateralizes Pax Dollar tokens is held in segregated accounts owned by the Paxos company at multiple FDIC-insured banks located throughout the United States. The Pax Dollar coins are stored on the Ethereum blockchain in the form of ERC-20 tokens.

To secure the transactions completed with Pax Dollars, Paxos employs OpenZeppelin's Pausable mechanism for USDP contracts. In essence, it allows pausing USDP transfers whenever there is a threat.

In addition, Withum, a top-tier auditing company, audits the USD deposits. It's responsible for ensuring that the total supply of Pax Dollar tokens matches the USD held in Paxos' reserve accounts. This means that there always has to be a $1 for 1 USDP token. Monthly attestation reports produced by Withum are posted on the Paxos website.

Note that the Pax Dollar price is still subject to some degree of fluctuation. However, it usually stays around $1, even during fluctuations, ensuring that the volatility is kept to a minimum.

The Founders of Pax Dollar

A financial technology company called Paxos is behind the creation of the Pax Dollar tokens. Paxos intends to revolutionize finance by achieving a way to move assets as fast as the internet moves. In 2015, the New York State Department of Financial Services gave Paxos a trust company charter, making Paxos the first licensed financial institution in America to provide cryptocurrency-related goods and services.

Initially, in 2018, Paxos introduced the Paxos Standard stablecoin. However, it was rebranded in 2021 to the Pax Dollar to more accurately reflect the pegged USDP price. Furthermore, in 2012, Paxos launched a cryptocurrency exchange called itBit.

Paxos was founded by Charles Cascarilla and Rich Teo. Prior to founding Paxos, Charles Cascarilla co-founded Cedar Hill Capital Partners and worked at such companies as Claiborne Capital Management, Goldman Sachs, and the Bank of America. Besides, he is the founding board member of the Association for Digital Asset Markets (ADAM).

Talking about Rich Teo, he used to work at Cedar Hill Capital Partners, founded by Cascarilla. He was also a financial analyst at Citi and even a combat signaler in the Singapore Armed Forces.

The Purpose of Pax Dollars

Essentially, USDP tokens are a great way to move USD in a decentralized way without going through third-party banking systems. Just like any other ERC-20 asset, the Pax Dollar can be exchanged over the Ethereum network. Users simply need to transmit tokens to an address managed by Paxos to redeem USDP. Paxos will then burn the USDP tokens and transfer fiat money to the bank account of the user.

Furthermore, another purpose of Pax Dollar tokens is to stabilize the volatility of the whole crypto market. Since the Pax Dollar price is pegged to the USD, it's barely affected by the fluctuations that occur in the crypto market.

Besides lowering the volatility of the crypto market and moving USD, the Pax Dollar crypto assets can function as a plan B for crypto holders during extremely high market fluctuations. How? Crypto holders can simply exchange their assets to USDP, this way preserving the value of their holdings in an asset that is not prone to change much.

Lastly, USDP serves as a utility token that allows itBit exchange users to convert other crypto assets to USDP instantly and free of charge. The stable USDP price also helps reduce the high volatility of the market.

What's Pax Dollar trading volume in the last 24 hours?

USDP has a trading volume of $5,612,085 in the last 24 hours.

What's Pax Dollar highest price ever?

USDP has a highest price of $2.02, which was reached on Nov 16, 2021 (1 year 6 months ago).

What's Pax Dollar lowest price ever?

USDP has a lowest price of $0.6014, which was reached on Dec 11, 2022 (5 months 1 week ago).

What are the best exchanges for buying and selling USDP?

Currently, the most active and dominating exchanges for buying and selling Pax Dollar are Binance, Kraken & Kucoin. The most popular Pax Dollar trading pairs are USDP/USDT (on Binance ), USDP/UST (on Bitfinex ), USDP/USD (on Bitfinex ). Head to the Crypto Deal Directory to access custom & exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.

What are the safest hardware wallets for keeping USDP?

According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping Pax Dollar. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory.

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Current market Price of a specific cryptocurrency.

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The cryptocurrency's market Price changes in percent within the last 24 hours (1 day).

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The highest historical cryptocurrency value.

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The lowest historical cryptocurrency value.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market.

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The ratio of Volume and Market Capitalization values.

The ratio of Volume and Market Capitalization values.

Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked (are available to be traded publicly).

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Verified Data

Pax Dollar project's Circulating Supply has been verified and is equal to:

Circulating Supply

1,019,052,716 USDP

The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency's lifetime. Similar to stock market's Fully Diluted Shares.

Note: Max Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned). The Total Supply is similar to stock market's Outstanding Shares.

Total Supply = All Issued Coins - Burned Coins.

Note: Total Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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Current price of Pax Dollar is $0.9996

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