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United States Dollar logoUSD
Pax Dollar (USDP)USDP
$1.0008
0.60%
Pax Dollar (USDP)
USDP Price
$1.0008
0.60%
Rank
#66
Market Cap (1Y)
$951.08M
-29.10%
Volume (1Y)
$10.61B
-60.80%
Circulating Supply
950,271,121
Transp. Vol.
Grade
1H1D1W1M1Y
+0.60%
ETH0x8e870...88289e1
ETH
Verify address & DYOR
Contract
ETH0x8e870...88289e1
ETH
Verify address w/ multiple resources & DYOR
Blockchain
Pax Dollar (USDP) is a stablecoin and calls itself “the world's first regulated crypto asset.” The Pax Dollar is issued...Read more
Pax Dollar logo
USDP
United States Dollar logo
USD

Pax Dollar Price (USDP)

USDP Yearly Performance

Today's Pax Dollar price is $1.0008, which is up 1% over the last 12 months. Pax Dollar's market cap is $951.08M. 1 year USDP volume is $10.61B. It has a market cap rank of 66 with a circulating supply of 950,271,121 and max supply of 950,271,121. Pax Dollar is traded on exchanges. Pax Dollar had an all-time high of $1.0553 8 months ago. Over the last year, Pax Dollar has had 0% transparent volume and has been trading on 624 active markets with its highest volume trading pairs being .

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Pax Dollar Statistics

Pax Dollar Price (1yr)$1.0008 (+0.60%)
Market Cap$951.08M (-29.10%)
Trading Volume (1yr)$10.61B (-60.80%)
Transparent Vol. (1yr)
Unknown
Transparency GradeUnknown
Circulating Supply950,271,121 (100.00%)
All-Time High
$1.0553-5.16%
10/13/2021 (8 months ago)
7D Price Prediction
N/A

Price

$1.0008
Price Change
$0.005989 (0.60%)

All-Time High

$1.0553
Date of ATH10/13/2021
Days Since ATH225
% of ATH94.84%
Price vs ATH

Market Cap

$951.08M
Mkt Cap Change
-$390.27M-$390,266,397 (-29.10%)
Mkt Cap Rank66
Mkt Dominance
Mkt Dominance

Circulating Supply

950,271,121
Max Supply950,271,121
% in Circulation100.00%
% in Circulation

About Pax Dollar

Pax Dollar (USDP) is a stablecoin and calls itself “the world's first regulated crypto asset.” The Pax Dollar is issued by the Paxos Trust Company and is fully collateralized by the US dollar at a 1:1 ratio. The dollar reserves are held in segregated accounts at multiple FDIC-insured banks located throughout the United States. Pax Dollar was formerly known as Paxos Standard Stablecoin (PAX).

Paxos was co-founded by Charles Cascarilla (CEO) and Rich Teo (CEO of itBit Asia) in 2012. Before Paxos, Cascarilla spent 15 years working in traditional finance as a financial analyst, portfolio manager, and partner at venture funds and institutional asset management funds. Similarly to Cascarilla, Teo worked in traditional finance as a financial analyst and senior analyst before cofounding Paxos.

In 2012, Paxos launched a cryptocurrency exchange called itBit. Three years later (May 2015), the New York State Department of Financial Services (NYSDFS) granted Paxos a trust company charter that established Paxos as the first regulated financial institution to offer crypto products and services in America. In September of 2018, Paxos launched the Paxos Standard stablecoin on the Ethereum blockchain following the ERC-20 token standard. Anyone with an Ethereum wallet can send and receive Paxos Standard tokens. In August of 2021 the Paxos Standard Stablecoin was renamed to the Pax Dollar and the ticker symbol was changed from PAX to USDP.

As a Trust company, Paxos is a fiduciary and qualified custodian of customer funds which means they have a legal obligation to act in the best interest of their users. The dollar deposits, which are held in segregated accounts at multiple U.S.-domiciled banks, are audited by Withum, a nationally top-ranking auditing firm. Withum independently verifies that the entire supply of Paxos Standard tokens is consistent with the US dollars in the reserve accounts managed by Paxos. Withum generates monthly attestation reports which are published on the Paxos website.

The Paxos Standard smart contract has been audited by smart contract auditors Nomic Labs (no relationship with Nomics.com) and ChainSecurity.

In addition to its function as a stablecoin, PAX also functions as a utility token giving itBit exchange users the ability to withdraw other crypto assets (e.g. Bitcoin) to PAX immediately and without fees.

When Pax Dollar tokens are in circulation, the corresponding dollars are held in reserve. When USDP is redeemed for US dollars, Pax Dollar tokens are immediately destroyed via the smart contract. Tokens are only in circulation when the corresponding US dollars are in custody.

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Pax Dollar Markets

(Top 10)
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Pax Dollar Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current Pax Dollar price? How much is 1 Pax Dollar worth?

    The price of 1 Pax Dollar is $1.0008. Visit our currency converter page to convert USDP prices to currencies other than USD.
  • When did Pax Dollar start?

    The earliest trading data for Pax Dollar is on September of 2018 (based on current exchange data).
  • How high can the Pax Dollar price go?

    Pax Dollar’s price has gone as high as $1.0553 (which is USDP’s all-time high). It achieved this price 8 months ago. Speculations abound for how high Pax Dollar’s price will get in the future.
  • What's the smart contract address for Pax Dollar?

    Pax Dollar's smart contract address is 0x8e870d67f660d95d5be530380d0ec0bd388289e1.

Today's USDP / Pax Dollar News for May 26, 2022

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