Pax Dollar (USDP)
USDP is a fully backed, regulated stablecoin available on Ethereum and Solana, designed for secure and transparent digital dollar transactions.
Overview
Pax Dollar (USDP) is a regulated stablecoin issued by Paxos, designed to provide a secure and transparent digital dollar on blockchain networks. It is fully backed 1:1 by cash and cash equivalents, ensuring that customer funds are always available for redemption. USDP operates on Ethereum and Solana, enabling developers and enterprises to integrate a reliable stablecoin for payments, settlements, and DeFi applications. Paxos holds USDP reserves in segregated accounts under a New York State Department of Financial Services trust charter, which legally protects customer assets from bankruptcy and misuse.
USDP addresses common concerns around stablecoin safety and regulatory compliance by adhering to strict oversight and publishing monthly attestation reports verifying reserve backing. This transparency and legal protection differentiate USDP from many other stablecoins that rely on money transmitter licenses or lack regulatory clarity. Developers can leverage USDP to offer users a stable digital dollar with guaranteed liquidity and legal safeguards, suitable for financial services, decentralized finance protocols, and enterprise blockchain solutions.
Getting started with USDP involves integrating its smart contracts available on GitHub and connecting to Ethereum or Solana networks. Paxos provides comprehensive documentation and developer resources to facilitate minting, redeeming, and transferring USDP tokens. The stablecoin’s availability on major blockchains and its regulatory backing make it a strong choice for teams seeking a trustworthy digital dollar for on-chain transactions and payments.
The Problem
Many stablecoins lack full regulatory oversight and legal protections, exposing users to risks such as insolvency and delayed redemptions. Additionally, customer funds are often not held in bankruptcy-remote accounts, increasing the risk of loss during issuer insolvency.
The Solution
Key Features
1:1 Redemption Guarantee
Users can redeem USDP tokens for an equivalent amount of USD at any time, ensuring liquidity and trust.
Open-Source Smart Contracts
USDP’s smart contracts are publicly available on GitHub, allowing developers to audit and integrate with confidence.
Monthly Transparency Reports
Paxos publishes monthly attestation reports confirming the backing of USDP tokens, enhancing user trust.
Key Strengths
How Developers Use Pax Dollar (USDP)
Stablecoin Payments for DeFi Platforms
DeFi developers integrate USDP to provide users with a stable digital dollar for lending, borrowing, and trading.
Enterprise Blockchain Settlements
Financial institutions use USDP to settle transactions on-chain with regulatory compliance and asset protection.
Cross-Chain Asset Transfers
Developers leverage USDP’s presence on Ethereum and Solana to enable seamless cross-chain stablecoin transfers.
Works Well WithEthereumSolana
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Pricing
Standard | |
|---|---|
| Price (Monthly) | Custom pricing |
| Price (Annual) | Custom pricing |
| Messaging | N/A |
| Support | Support available via Paxos customer service |
| Analytics |
Resources
Paxos provides extensive resources including monthly transparency reports, open-source smart contracts, and detailed developer documentation to support integration and compliance.