Paxos (USDP) Price Index
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MarketCap$ 40,588,457
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Volume$ 8,781,394
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Change0.07%
Pax Dollar
Bitcoin
Mezo Wrapped BTC
Osmosis allBTC
NEAR Intents Bridged BTC
Bitcoin Base
Bitcoin AI
Bitcoin Second Chance
Bobby The Cat
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Big Tom Coin
Bobby The CatEthereum
Bridged Ether (StarkGate)
Osmosis allETH
NEAR Intents Bridged ETH
Krown Bridged ETH (Krown)
Bridged Binance-Peg Ethereum (opBNB)
The Ticker Is ETHTether
Cronos Bridged USDT (Cronos)
opBNB Bridged USDT (opBNB)
ENI Bridged USDT (ENI)
Linea Bridged USDT (Linea)
Injective Bridged USDT (Injective)
L2 Standard Bridged USDT (Base)
Scroll Bridged USDT (Scroll)
KCC Bridged USDT (Kucoin Community Chain)
Polygon Hermez Bridged USDT (x Layer)
StarkGate Bridged USDT (StarkNet)
Pulsechain Bridged USDT (Pulsechain)
Morph L2 Bridged USDT (Morph L2)
Abstract Bridged USDT (Abstract)
Map Bridged USDT (Map)
xDai Bridged USDT (Gnosis)
Sophon Bridged USDT (Sophon)
Krown Bridged USDT (Krown)
Stargate Bridged USDT
Celer Bridged USDT (Conflux)
HashKey Bridged USDT (HashKey)
Osmosis allUSDT
Wormhole Bridged USDT (Kaia)
NEAR Intents Bridged USDT
CoreDAO Bridged USDT (Core)
Etherlink Bridged USDT (Etherlink)
Sonic Gateway Bridged USDT (Sonic)
Polygon Hermez Bridged USDT (Polygon zkEVM)
RainLink Bridged USDT (Xone)
TAC Bridged USDT (TAC)
Celer Bridged USDT (Astar)
Reddex Bridged USDT (Redbelly)
Thundercore Bridged USDT (Thundercore)
Lisk Bridged USDT (Lisk)
Unit Zero Network Bridged USDT (Unit Zero Network)
Symbiosis Bridged USDT (Bahamut)
Mode Bridged USDT (Mode)
Zircuit Bridged USDT (Zircuit)
BOB Network Bridged USDT (BOB Network)
Soneium Bridged USDT (Soneium)
Beam Bridged USDT (Beam)
ShimmerBridge Bridged USDT (ShimmerEVM)
Unichain Bridged USDT (Unichain)
Nova Merged USDT (zkLink)
Fuse Bridged USDT (Fuse)
Arken Bridged USDT (Viction)
Areum Bridged USDT (Areum Network)
Pundi AIFX Omnilayer Bridged USDT (Pundi AIFX Omnilayer)
Ficus Root Bridged USDT (Taraxa)USDC
Binance Bridged USDC (BNB Smart Chain)
StarkGate Bridged USDC (Starknet)
Cronos Bridged USDC (Cronos)
Linea Bridged USDC (Linea)
Bridged USD Coin (Scroll)
zkSync Bridged USDC (zkSync)
Mantle Bridged USDC (Mantle)
Gnosis xDAI Bridged USDC (Gnosis)
Etherlink Bridged USDC (Etherlink)
CCIP Bridged USDC (Ronin)
Bridged USD Coin (PulseChain)
Polygon Hermez Bridged USDC (X Layer)
SX Rollup Bridged USDC (SX Rollup)
Initia Bridged USDC (Initia)
NEAR Intents Bridged USDC
LayerZero Bridged USDC (Aptos)
Wanchain Bridged USDC (Cardano)
Multichain Bridged USDC (Fantom)
Celer Bridged USDC (Astar)
Bridged USDC (Immutable zkEVM)
Rainbow Bridged USDC (Aurora)
Rollux Bridged USDC (Rollux)
Cronos zkEVM Bridged USDC (Cronos zkEVM)
Sophon Bridged USDC (Sophon)
Taiko Bridged USDC (Taiko)
Bridged USD Coin (Manta Pacific)
KCC Bridged USDC (KuCoin Community Chain)
Squid Bridged USDC (Saga)
Polygon Hermez Bridged USDC (Polygon zkEVM)
Morph L2 Bridged USDC (Morph L2)
Celer Bridged USDC (Conflux)
Eclipse Bridged USDC (Eclipse)
Bifrost Bridged USDC (Bifrost)
Beam Bridged USDC (Beam)
Synapse Bridged USDC (Elastos)
Mode Bridged USDC (Mode)
CoreDAO Bridged USDC (Core)
Zero Network Bridged USDC (Zero Network)
Mantra Bridged USDC (Mantra)
Arbitrum Bridged USDC (Arbitrum Nova)
Hyperlane Bridged USDC (Mantra EVM)
Nomad Bridged USDC (Moonbeam)
Bridged USD Coin (Force Bridge)
Skale IMA Bridged USDC (Skale)
Celer Bridged USDC (Filecoin)
Symbiosis Bridged USDC (Bahamut)
Arbitrum Bridged USDC (EDU Chain)
Wormhole Bridged USDC (Fantom)
Thundercore Bridged USDC (Thundercore)
zkLink Nova Merged Bridged USDC (zkLink Nova)
Fraxtal Bridged USDC (Fraxtal)
Shido Bridged USDC (Shido)
Chainport Bridged USDC (Humanode)
Superseed Bridged USDC (Superseed)
Q Bridged USDC (Q Mainnet)
Sanko Bridged USDC (Sanko)
Energi Bridged USDC (Energi)
Celer Bridged USDC (Oasys)
Multichain Bridged USDC (Moonbeam)
Multichain Bridged USDC (Dogechain)Cardano
Binance-Peg Cardano
Binance-Peg BUSDBUSD
Updated on Dec 11, 2023
Overview: What is Paxos (USDP)?
Paxos (USDP) is the native stablecoin of the Paxos Trust Company. Paxos is creating blockchain-based payments and regulated stablecoin solutions, per its website. Paxos-issued digital assets are regulated by the New York Department of Financial Services, and the Paxos Dollar or USDP stablecoin is backed 1:1 by US dollar reserves.
What Makes Paxos Coin Unique?
Paxos Trust builds blockchain infrastructure for enterprise-level companies. Its regulated stablecoin platform, with USDP, is now five years old. Paxos created Paxos , then called Paxos (PAX), in 2018 as the first regulated USD-backed stablecoin. In August 2023, Paxos also launched the PayPal USD (PYUSD) token, making it available to 100 million PayPal users and the crypto ecosystem in its partnership with PayPal.
What is Paxos (USDP) Used For?
Paxos or Paxos Standard is designed as a stable alternative to fiat currencies. USDP is designed for borderless peer-to-peer transfers, use in commerce, trading, and as a store of wealth. It is traded on major cryptocurrency exchanges.
As a stablecoin backed on a 1:1 ratio of US dollar assets, its price and value are pegged to the US dollar. Paxos serves as an on-ramp for Paxos users to buy other cryptocurrencies. Paxos has crypto brokerage services and provides institutional and retail investors access to several cryptocurrencies, including Bitcoin (BTC) and Pax Gold (PAXG).
Paxos Trust also offers itBit, its trading service partner, and an over the counter (OTC) desk for large trades. Paxos Trust also provides custody management services and has a stablecoin-as-a-service offering. This latter product allows companies to create their own branded US dollar-backed stablecoins.
How Does USDP Work?
Paxos or Pax Dollar is an Ethereum ERC-20 stablecoin from one of the most regulated cryptocurrency projects. USDP is backed by US dollar reserves on a 1:1 basis, which means that for every USDP, Paxos Trust holds USD 1.
Paxos Trust is audited monthly by US auditing firm Withum to ensure its reserves match the amount of USDP in circulation. The pegging of USDP to the US dollar, in this manner, keeps Paxos value stable and equivalent to USD 1. However, Paxos charts and price history show slight deviations away from $1, like other stablecoins.
To exchange USD for USDP, investors deposit USD into a Paxos account. Paxos smart contracts generate the matching amount in Paxos, and the minted Paxos is transferred to the investor’s account.
What Factors Determine the Price of Paxos?
The price of Paxos (USDP) is determined by the cryptocurrency’s backing to the US dollar on a 1:1 ratio. This means that 1 USDP is always worth 1 US dollar. Paxos charts may reveal slight deviations from USD 1 caused by liquidity. The only time a stablecoin will significantly deviate in value from its pegged asset is if it becomes unpegged, which is usually a sign of a major issue with the stablecoin or its reserve backing.
What is the Paxos(USDP) Coin Price Prediction for 2030?
As the Paxos is a stablecoin pegged to the US dollar, a Paxos coin price prediction for 2030 should forecast that the Paxos (USDP) value will be $1.
How Is the Paxos Network Secured?
Paxos (USDP), as an Ethereum ERC-20 token, takes security from Ethereum’s blockchain. Paxos uses the OpenZepellins Pausable Contract module. This technology uses libraries of Ethereum smart contracts and means Paxos Trust can pause Paxos (USDP) transactions if there is a security threat.
Where to Buy Paxos (USDP)?
USDP or Pax Dollar is available on major cryptocurrency exchanges, including Binance, Coinbase, BitMart, and TruBit.
How to Invest in Paxos?
Investors or traders looking to buy Paxos can usually find the cryptocurrency on one of the major cryptocurrency exchanges. The process for buying USDP on a standard cryptocurrency exchange would be as follows:
- Check the preferred cryptocurrency exchange lists Paxos .
- Open an account with the exchange or use an existing account.
- Fund the purchase of Paxos with crypto or fiat funds.
- Trade the funds for Paxos .
- For safety, move the Paxos balance from the exchange to cold storage, such as a hardware wallet.
How can you store Paxos?
Paxos Dollar (USDP) holders not planning to use USDP immediately usually find the best and safest storage method in cold crypto storage, such as a hardware wallet. Paxos Trust also offers crypto custody services.
FAQs
Is Paxos a safe investment?
The cryptocurrency market is still new and evolving and is mostly unregulated, so it has little protection for consumers and suffers from numerous hacks, attacks, and illicit actors. Paxos Trust and USDP are regulated by the New York Department of Financial Services; however, Paxos offers services to institutions and enterprise-level clients.
Who are Paxos’ customers?
Paxos Trust provides stablecoin-as-a-service blockchain technology to enterprise clients and institutions. It also offers crypto custody and crypto trading services. Paxos Trust has some high-level partnerships, including with PayPal, to create the PayPal USD (PYUSD) token in 2023.
Is Paxos built on Ethereum?
Yes, Paxos (USDP) is an Ethereum ERC-20 token.
Is Paxos used in blockchain?
Yes, Paxos (USDP) is designed as a blockchain-based stable alternative to fiat currencies and a digital asset. USDP is built for borderless peer-to-peer transfers, use in commerce, trading, and as a store of wealth. It is traded on major cryptocurrency exchanges.
Is Paxos a wallet?
Yes, Paxos Trust provides Paxos Wallet for users to purchase and trade cryptocurrencies, including USDP, Pax Gold (PAXG), Bitcoin, Ethereum, etc.
Is Paxos profitable?
Paxos (USDP) is a stablecoin, so its value won’t be changed by the volatility of the cryptocurrency markets, which often allows traders and investors to profit. USDP is pegged to US dollar reserves on a 1:1 ratio, so each USDP retains the value of $1.
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BitcoinMezo Wrapped BTCOsmosis allBTCNEAR Intents Bridged BTCBitcoin BaseBitcoin AIBitcoin Second ChanceBobby The CatbatcatBig Tom CoinBobby The CatEthereumBridged Ether (StarkGate)Osmosis allETHNEAR Intents Bridged ETHKrown Bridged ETH (Krown)Bridged Binance-Peg Ethereum (opBNB)The Ticker Is ETHTetherCronos Bridged USDT (Cronos)opBNB Bridged USDT (opBNB)ENI Bridged USDT (ENI)Linea Bridged USDT (Linea)Injective Bridged USDT (Injective)L2 Standard Bridged USDT (Base)Scroll Bridged USDT (Scroll)KCC Bridged USDT (Kucoin Community Chain)Polygon Hermez Bridged USDT (x Layer)StarkGate Bridged USDT (StarkNet)Pulsechain Bridged USDT (Pulsechain)Morph L2 Bridged USDT (Morph L2)Abstract Bridged USDT (Abstract)Map Bridged USDT (Map)xDai Bridged USDT (Gnosis)Sophon Bridged USDT (Sophon)Krown Bridged USDT (Krown)Stargate Bridged USDTCeler Bridged USDT (Conflux)HashKey Bridged USDT (HashKey)Osmosis allUSDTWormhole Bridged USDT (Kaia)NEAR Intents Bridged USDTCoreDAO Bridged USDT (Core)Etherlink Bridged USDT (Etherlink)Sonic Gateway Bridged USDT (Sonic)Polygon Hermez Bridged USDT (Polygon zkEVM)RainLink Bridged USDT (Xone)TAC Bridged USDT (TAC)Celer Bridged USDT (Astar)Reddex Bridged USDT (Redbelly)Thundercore Bridged USDT (Thundercore)Lisk Bridged USDT (Lisk)Unit Zero Network Bridged USDT (Unit Zero Network)Symbiosis Bridged USDT (Bahamut)Mode Bridged USDT (Mode)Zircuit Bridged USDT (Zircuit)BOB Network Bridged USDT (BOB Network)Soneium Bridged USDT (Soneium)Beam Bridged USDT (Beam)ShimmerBridge Bridged USDT (ShimmerEVM)Unichain Bridged USDT (Unichain)Nova Merged USDT (zkLink)Fuse Bridged USDT (Fuse)Arken Bridged USDT (Viction)Areum Bridged USDT (Areum Network)Pundi AIFX Omnilayer Bridged USDT (Pundi AIFX Omnilayer)Ficus Root Bridged USDT (Taraxa)USDCBinance Bridged USDC (BNB Smart Chain)StarkGate Bridged USDC (Starknet)Cronos Bridged USDC (Cronos)Linea Bridged USDC (Linea)Bridged USD Coin (Scroll)zkSync Bridged USDC (zkSync)Mantle Bridged USDC (Mantle)Gnosis xDAI Bridged USDC (Gnosis)Etherlink Bridged USDC (Etherlink)CCIP Bridged USDC (Ronin)Bridged USD Coin (PulseChain)Polygon Hermez Bridged USDC (X Layer)SX Rollup Bridged USDC (SX Rollup)Initia Bridged USDC (Initia)NEAR Intents Bridged USDCLayerZero Bridged USDC (Aptos)Wanchain Bridged USDC (Cardano)Multichain Bridged USDC (Fantom)Celer Bridged USDC (Astar)Bridged USDC (Immutable zkEVM)Rainbow Bridged USDC (Aurora)Rollux Bridged USDC (Rollux)Cronos zkEVM Bridged USDC (Cronos zkEVM)Sophon Bridged USDC (Sophon)Taiko Bridged USDC (Taiko)Bridged USD Coin (Manta Pacific)KCC Bridged USDC (KuCoin Community Chain)Squid Bridged USDC (Saga)Polygon Hermez Bridged USDC (Polygon zkEVM)Morph L2 Bridged USDC (Morph L2)Celer Bridged USDC (Conflux)Eclipse Bridged USDC (Eclipse)Bifrost Bridged USDC (Bifrost)Beam Bridged USDC (Beam)Synapse Bridged USDC (Elastos)Mode Bridged USDC (Mode)CoreDAO Bridged USDC (Core)Zero Network Bridged USDC (Zero Network)Mantra Bridged USDC (Mantra)Arbitrum Bridged USDC (Arbitrum Nova)Hyperlane Bridged USDC (Mantra EVM)Nomad Bridged USDC (Moonbeam)Bridged USD Coin (Force Bridge)Skale IMA Bridged USDC (Skale)Celer Bridged USDC (Filecoin)Symbiosis Bridged USDC (Bahamut)Arbitrum Bridged USDC (EDU Chain)Wormhole Bridged USDC (Fantom)Thundercore Bridged USDC (Thundercore)zkLink Nova Merged Bridged USDC (zkLink Nova)Fraxtal Bridged USDC (Fraxtal)Shido Bridged USDC (Shido)Chainport Bridged USDC (Humanode)Superseed Bridged USDC (Superseed)Q Bridged USDC (Q Mainnet)Sanko Bridged USDC (Sanko)Energi Bridged USDC (Energi)Celer Bridged USDC (Oasys)Multichain Bridged USDC (Moonbeam)Multichain Bridged USDC (Dogechain)CardanoBinance-Peg CardanoBinance-Peg BUSDBUSD