Last updated at 2022/10/04
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Pax Dollar, $USDP

USD-pegged Stablecoin

KPIs & Market Data

Market Cap
$917M
Market Cap 7d %
-5.83%
Market Cap 30d %
-4.91%
Volume 24h
$81M
Volume 7d
$1.0B
Mechanism
Governance
Centralized
Issuer
Paxos Trust Company, LLC
Jurisdiction
United States

USDP Coin is a USD pegged stable coin that is always issued & redeemed in a 1:1 ratio with USD. It is fully backed by cash and cash equivalents and audited monthly through an independent auditor. USDP is issued either on the Ethereum mainnet or the Binance Smart Chain.

Risks

  • Counterparty risk against Paxos Trust Company
  • Risk of insufficient backing
    • Paxos only reports a monthly attestation report on the backing of the outstanding BUSD
  • Risk of loss of collateral due to low quality of collateral based on speculation
  • Risk of asset freeze due to regulatory pressure

$USDP Newsticker

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