Market cap
$24.88M
-0.46 %
Volume (24h)
$89.6K
-0.46 %
Circulating supply
63,264,568 USDP
Total supply
63,264,568 USDP
Pax Dollar (USDP)
$ 0.99
-0.46 %
Main info
News
Comments
Markets
Analytics
Key data
updated $0Market cap$24.88M
Volume 24h$89.6K
Circulating supply63.26M
All-time high$1.18-16% from peak · 2024-04-16
Pax Dollar (USDP) is a stablecoin — a cryptocurrency designed to hold its value steady at one US dollar. Every USDP token in circulation is backed by US dollars held in reserve, which makes it a low-volatility alternative to coins like Bitcoin. It's issued by Paxos Trust Company, a regulated financial institution based in New York.
Frequently asked questions
What is Pax Dollar and how is it different from other cryptocurrencies?
Unlike Bitcoin or Ethereum, whose prices swing wildly, USDP is a stablecoin pegged to the US dollar — one token is meant to equal one dollar. It's issued by Paxos Trust Company, a New York-regulated financial institution, so it operates under strict oversight. The main use case is moving money across the crypto ecosystem without worrying about price changes.
How does Pax Dollar work technically?
USDP is an ERC-20 token, meaning it runs on the Ethereum blockchain and benefits from its security and transparency. Paxos manages the token supply: when someone deposits dollars, new tokens are minted; when dollars are withdrawn, tokens are burned. All reserves are held in cash and cash equivalents, and Paxos publishes monthly reserve reports so anyone can verify the backing.
How is USDP issued and can the supply grow unlimited?
The supply of USDP is fully demand-driven — tokens are only created when someone deposits real dollars with Paxos, and destroyed when those dollars are withdrawn. This means there's no mining, staking rewards, or algorithmic issuance. The total supply simply mirrors the amount of reserves held, which keeps the system 1:1 backed.
How can I store and use Pax Dollar?
Since USDP is an ERC-20 token, it works with any Ethereum-compatible wallet like MetaMask, Ledger, or Trust Wallet. People commonly use it to park funds between trades, send dollar value anywhere in the world, or interact with DeFi platforms that accept stablecoins. Always double-check the token contract address before sending or receiving.