📌 What is $USDP (Pax Dollar)?
$USDP (also known as Pax Dollar) is a USD-backed stablecoin — meaning it’s designed to always stay around $1 U.S. dollar. �
help.paxos.com
🪙 Key Points (Short Summary)
✔️ Stable Value:
• Each USDP coin is supposed to equal 1 USD, and its price stays around $1.00. �
CoinGecko
✔️ Backed by Real Dollars:
• USDP is backed 1:1 by U.S. dollar reserves, held in bank accounts or short-term cash equivalents. �
docs.paxos.com
✔️ Regulated & Transparent:
• It’s issued by Paxos Trust Company and regulated by U.S. authorities (e.g., NYDFS), with audits and public reporting. �
Phemex
✔️ Works on Blockchains:
• It operates as a token on Ethereum and other chains (e.g., Solana), so you can send it anywhere, anytime. �
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