1W
United States Dollar logoUSD

Paxos Standard (PAX)

PAX Price
$1.0001
-5.39%
Market Cap
$866.94M
-8.10%
Volume
$493.27M
-30.51%
Transp. Vol.
53%-34.74%
Grade
A gradeA grade
Rank
#79

PAX / Paxos Standard Price

(1 week)
Price Prediction:
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Paxos Standard Weekly Performance

Today's Paxos Standard price is $1.0001, which is down 5% over the last 7 days. Paxos Standard's market cap is $866.94M. 1 week PAX volume is $493.27M. It has a market cap rank of 79 with a circulating supply of 866,820,708 and max supply of 866,820,708. Paxos Standard is traded on exchanges. Paxos Standard had an all-time high of $1.0406 almost 2 years ago. Over the last week, Paxos Standard has had 53% transparent volume and has been trading on 531 active markets with its highest volume trading pairs being .

PAX Data Highlights
Paxos Standard Price (1wk)$1.0001 (-5.39%)
Market Cap$866.94M (-8.10%)
Trading Volume (1wk)$493.27M (-30.51%)
Transparent Vol. (1wk)
$261.33M53% (-34.74%)
Transparency GradeA gradeA grade(Transparent)
Circulating Supply866,820,708 (100.00%)
7D Price Prediction
N/A
1st 1D CandleSep '18
1st TradeSep '18
1st OrderbookSep '18
Exchanges93
Trading Pairs531
Updated2 minutes

Paxos Standard Statistics

Price

$1.0001
Price Change
-$0.057033 (-5.39%)

All-Time High

$1.0406
Date of ATH5/2/2019
Days Since ATH675
% of ATH96.12%
Price vs ATH

Market Cap

$866.94M
Mkt Cap Change
-$76.45M-$76,445,766 (-8.10%)
Mkt Cap Rank79
Mkt Dominance<1%
Mkt Dominance

Circulating Supply

866,820,708
Max Supply866,820,708
% in Circulation100.00%
% in Circulation

Volume

$493.27M$493,266,922
Vol. Change
-$216.61M-$216,606,434 (-30.51%)
Exchange VolumeUnknown

Transparent Volume

53%
Transparent Volume (Δ)
-34.74%
Transparent Volume
A - 53%
B - <1%
C - 18%
D - 29%
? - <1%

About Paxos Standard

Paxos Standard (PAX) is a stablecoin and calls itself “the world's first regulated crypto asset.” The Paxos Standard token 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.

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.

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 Paxos Standard tokens are in circulation, the corresponding dollars are held in reserve. When PAX is redeemed for US dollars, Paxos Standard 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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Paxos Standard Markets

(Top 10)
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Paxos Standard Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current Paxos Standard price? How much is 1 Paxos Standard worth?

    The price of 1 Paxos Standard is $1.0001. Over the last 24 hours, a Paxos Standard is worth -1.09% less. Go here to convert PAX prices to currencies other than USD.
  • When did Paxos Standard start?

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

    Paxos Standard’s price has gone as high as $1.0406 (which is PAX’s all-time high). It achieved this price almost 2 years ago. Speculations abound for how high Paxos Standard’s price will get in the future.

Today's PAX / Paxos Standard News for March 7, 2021

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