Pax Dollar (USDP)

What is Pax Dollar Crypto Currency? The Pax Dollar (or USDP) Cryptocurrency Coin is a stablecoin developed by the Paxos Trust Company, for use as a digital currency for transactions on their network. It was launched in September 2014 and is currently the only stablecoin created by a financial institution that has been approved by the New York State Department of Financial Services. Paxos Trust Company is a financial services firm that specializes in providing liquidity, trust, security and compliance for institutions, companies, individuals and markets. Who Founded it? The Paxos Trust Company is the brainchild of CEO Charles Cascarilla, his co-founders and Chief Technology Officer Tom Jessop, Chief Compliance Officer Mike Ward and CFO Stephen Grano. In 2012, the company was granted a trust company charter by the New York State Department of Financial Services, and the following year, they launched their first product, the PAX Gold (PAXG) exchange-traded product. What Makes it Unique? The Pax Dollar Cryptocurrency Coin is unique in several aspects. Firstly, it is the only stablecoin approved by the New York State Department of Financial Services, a major advantage for businesses wishing to use it in the United States. It is also backed by the US Dollar on a 1-to-1 ratio, meaning it is stable and reliable. The coin is also ERC-20 compliant, meaning it can be used on the Ethereum blockchain. Where Does It Used? Pax Dollar is used primarily for trading and cross-border payments on the Paxos network. The coin is a highly liquid asset and can be quickly transferred to wallets outside of the network, and is easily tradable on popular cryptocurrency exchanges. Additionally, the coin is slowly becoming accepted by more merchants and platforms across the world. Where to Buy/Sell It? Pax Dollar can be purchased and sold on a variety of popular cryptocurrency exchanges, including Binance, OKEx and Bitfinex. Paxos also offers its clients access to over-the-counter (OTC) markets, meaning clients can buy and sell Pax Dollar for USD or other fiat currencies. Additionally, Paxos clients can also use their PAXD wallets to buy and sell the coin. Comments Pax Dollar is a great stablecoin for businesses and individuals who wish to use it for trading, payments and other transactions. The coin is stable, reliable and safe, and is backed by a trusted financial institution. Additionally, it is easily available on several exchanges and OTC markets, making it convenient for many users.