Pax Dollar (USDP) is a fiat-backed stablecoin issued by Paxos, a blockchain infrastructure company that operates as a limited purpose trust company chartered by the New York State Department of Financial Services. Each USDP token is designed to maintain a 1:1 value peg with the U.S. dollar, supported by underlying reserves of cash and cash-equivalent assets. The token was originally launched as PAX before being rebranded to Pax Dollar, and it is available across multiple blockchain networks, including Ethereum and Solana, allowing it to function within a broad range of decentralized finance applications, trading platforms, and payment use cases. As a regulated offering from a chartered trust company, USDP emphasizes transparency and regulatory compliance, positioning it as a dollar-denominated digital asset alternative within the stablecoin market. The token is part of the broader Paxos ecosystem, which has historically included the itBit exchange and various tokenization and settlement services.
A dense morning across markets — Western Union's USDP stablecoin goes live on Solana, Tom Lee's Bitmine adds a nine-figure ETH position, and the CLARITY Act clears a key stablecoin-yield hurdle as…
Western Union has deployed its stablecoin $USDP on the Solana network, marking a significant step for one of the…
Western Union's stablecoin USDP is now live on the Solana network, expanding its on-chain footprint beyond its prior…
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.
Pax Dollar (USDP) is categorised as: Stablecoins, USD Stablecoin, Solana Ecosystem.
The official Pax Dollar site is https://www.paxos.com/standard/.
Most recent Pax Dollar coverage: "USDP Launches on Solana as Bitmine Buys 101,745 ETH" — read at /en-US/a/corporate-btc-hits-115m-coins-stablecoin-volumes-could.
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