USDP
Pax Dollar
active
Fiat Backed
Market Cap $41M
Pax Dollar (USDP) is a fiat-backed USD stablecoin issued by Paxos Trust Company, maintaining a stable value close to $1 USD.
Key Data
| Backing | Fully backed 1:1 by U.S. dollar reserves, held entirely in cash and cash equivalents. |
| Auditor | KPMG LLP |
| Reserve Reporting | Monthly attestation reports |
| Redemption | Fully redeemable from Paxos on a one-to-one basis for U.S. dollars (1 USDP = 1 USD). |
| Peg Currency | USD |
| Launched | 2018 |
Supported Networks
EthereumSolana
Overview
Pax Dollar (USDP) is a stablecoin launched in 2018 by Paxos Trust Company. It is designed to maintain a stable value close to $1 USD.
How It Works
USDP is fully backed 1:1 by U.S. dollar reserves, held entirely in cash and cash equivalents, and is available on multiple blockchains, including Ethereum and Solana.
Reserve Backing
The reserves are audited monthly by KPMG LLP, ensuring transparency and trust.
Supported Networks
USDP is supported on the Ethereum and Solana blockchains.
Market data via CoinGecko